261 French St, New Brunswick, NJ 08901

This asset consists of 11 residential units, including 4 studios, 6 one-bedroom units, and 1 two-bedroom unit. The property is conveniently located approximately 1 mile from the New Brunswick train station, providing direct access to New York Penn, and is just a short 5-minute drive to Rutgers University’s New Brunswick campus.

The property features on-site surface parking in the rear, along with one garage space and eight storage units, offering additional income potential.

The asset is currently operating at an in-place 7.0% cap rate, with approximately $400 per unit in rental upside. Through mark-to-market of existing rents and ancillary income, a new owner has the ability to increase cash flow and achieve a stabilized yield approaching a 9.0% cap rate.