636 & 654 Lyons Avenue Portfolio
Multifamily | 12 Units | $741,667/unit
Marketing description
636 and 654 Lyons Avenue is 59-unit multifamily offering located on a 0.6-acre site in Irvington, New Jersey. The Portfolio consists of two well-positioned residential assets within a dense, transit-oriented corridor in Essex County, providing convenient access to Newark and the greater New York City metropolitan area.
The Portfolio benefits from consistent in-place cash flow with near-term upside through operational enhancements and the ability to adjust rents toward market levels. Irvington benefits from steady rental demand driven by its proximity to Newark's employment centers and regional transit connectivity to New York City, while limited new development and zoning constraints support long-term rent growth. Strong regional connectivity continues to drive leasing activity and reinforces the assets' position within a high-demand rental corridor.
Investment highlights
- 636 and 654 Lyons Avenue comprise a 59-unit multifamily portfolio that strikes a balance between scale and operational simplicity. The unit count allows for professional management and expense control without the complexity of larger institutional assets, positioning the Portfolio as an accessible, easily operable footprint within the Irvington submarket.
- The Portfolio's mix of one-bedroom to three-bedroom units appeals to a wide range of renters, including individuals, couples, and families. This diversity enhances leasing velocity and reduces turnover risk relative to smaller, less flexible unit compositions.
- Located just outside Newark, the Portfolio offers access to a diverse employment base, including Newark Liberty International Airport, University Hospital, Rutgers University-Newark, NJIT, Prudential Financial, and Audible (Amazon), supporting sustained rental demand.
- Located along Lyons Avenue, a key thoroughfare with NJ Transit bus service, the Portfolio offers direct connectivity to Newark and New York City. Accessibility to major roadways further supports commuter demand and long-term tenancy.
- Irvington is a fully developed urban township with limited availability of land for new construction. High replacement costs and zoning restrictions further constrain supply, giving existing multifamily properties a competitive advantage and ensuring long-term asset value protection.
- Current average rents of $1,381 remain below market levels of $1,556, presenting a clear opportunity to increase revenue through natural turnover. Moreover, NOI is projected to reach $664K+, reflecting meaningful cash flow growth.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
