Listed by Marcus & Millichap - New Jersey
$19,250,000
Metro526 Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 38,962
Units 40
Cap Rate 5.76%
NOI $1,108,047
Year Built 2024
Stories 3
Acreage 0.630
Multifamily | 5.76% CAP | 40 Units
Marketing description
Marcus & Millichap is pleased to exclusively present 526 North Ave, Dunellen, Middlesex County, New Jersey.
Investment highlights
NEW CONSTRUCTION ASSET (2024 DELIVERY)
- Institutional-Quality Construction With Minimal Near-Term CapEx
STABILIZED OPERATIONS WITH IMMEDIATE CASH FLOW
- NOI ~$1.11M
TRANSIT-ORIENTED LOCATION
- NJ Transit Access to NYC
BOUTIQUE 40-UNIT ASSET (SCARCITY PREMIUM)
- Limited Comparable Inventory
WALKABLE DOWNTOWN (83 WALK SCORE)
- Strong Tenant Demand Drivers
EMBEDDED NOI GROWTH
- Rent Dispersion Indicates Optimization Opportunity
30-YEAR PILOT TAX ADVANTAGE
- Structure Overview
- 30-Year Term
- Annual Service Charge based on Revenue
- Predictable Expense Structure
Estimated Annual Tax Savings
~$225,000 in annual tax savings
~$6.75M in Savings over 30-year period
The PILOT Structure materially enhances investor returns and reduces effective acquisition bias.
Listing Contacts
Listed by Marcus & Millichap - New Jersey
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,108,047.00
$92,337.25/mo
Valuation Metrics
0
DSCR
5.76%
Cap Rate
5.76%
ROI
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