Listed by The Kislak Company Inc Woodbridge
$32,500,000
Drum Point Arms
Details
Property Type Multifamily
Sub Type Apartment Building
Units 126
Buildings 6
Stories 2
Investment Type Value Add
Multifamily | 126 Units | $257,937/unit
Marketing description
Drum Point Arms consists of 6, two-story residential buildings with 126 units. The property is conveniently located near the Garden State Parkway and Route 9. Drum Point Arms is also walking distance to schools and nearby shopping.
Investment highlights
- First time on the market in 50 years
- Value-add opportunity
- Approximately 20% of the units have been renovated
- No rent control
- Hardwood floors
- Property owned laundry facilities with video monitoring
- Reserved and visitor parking
- Eat-in kitchens
- Wall mounted AC Units
- Tenants pay electric cooking and hot water
- One bedroom junior units are all electric
- Boilers: building 1 boiler replaced in 2012; building 2 boiler replaced in 2022
- Roofs: Building 3 roof replaced in 2019; building 2 roof replaced in 2021; all 4 Flat roofs were replaced in 2023.
Listing Contacts
Listed by The Kislak Company Inc Woodbridge
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