King Cole Apts & The Creamery
Multifamily | 38 Units
Marketing description
SAGE Real Estate Advisors is pleased to present 62 King Cole Road in Hamburg, NJ and The Creamery at 16 Walling Avenue in Sussex, NJ, two stabilized multifamily properties located in Sussex County, New Jersey. Together, the offering consists of a well-positioned residential portfolio featuring a mix of apartment homes that appeal to a broad renter base seeking quality suburban housing in Northern New Jersey. The Creamery additionally includes a long-term retail tenant occupied by a dental office, providing added tenancy diversification and neighborhood presence.
Located within established residential communities, both properties benefit from proximity to major transportation routes, local retail amenities, and regional employment centers that support long-term renter demand. With stable occupancy and strong market fundamentals, the portfolio presents investors with the opportunity to acquire well-maintained multifamily assets in a supply-constrained Northern New Jersey rental market.
Investment highlights
- Stabilized multifamily portfolio located in Sussex County, New Jersey
- Total of 37 apartment units and 1 retail unit across two properties: 14 units at King Cole Apartments and 23 apartments and 1 retail units at The Creamery
- The Creamery includes one long-term retail tenant (dental office) providing added tenancy diversification
- Strong market fundamentals in supply-constrained Northern New Jersey rental market
- Proximity to Route 23 and major regional transportation corridors
- Established residential communities with access to local retail, dining, and employment centers
- Well-maintained properties with stable occupancy
- Value-add upside: 11% at King Cole Apartments and 18% at The Creamery
- Combined NOI of $342,760
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