RE/MAX Central
Listed by RE/MAX Central
$2,195,000
112-114 Westervelt Ave
Details
Property Type Multifamily
Sub Type Apartment Building
Units 9
Cap Rate 6.52%
NOI $143,090
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 9.09%
Pro-Forma NOI $199,502
Year Built 1955
Acreage 0.570
Investment Type Stabilized
Multifamily | 6.52% CAP | 9 Units
Marketing description
This 9-unit plus 3 garage multifamily investment property is located in the commuter-friendly North Plainfield, NJ market. The property is fully occupied with stable tenancy and offers significant room for upside through rent increases to market rates. Located in an undersupplied market for rental units with proximity to major corridors and train station.
Investment highlights
- Trophy property. Lovely 9 unit multifamily apartment building with 3 garages for sale in North Plainfield. Very large lot and exclusive parking lot. Very unique and nice apartments. Great addition to any portfolio.
- Fully occupied with stable tenancy
- Undersupplied market for rental units
- Room for upside
- Commuter-friendly location with proximity to major corridors and train station
Listing Contacts
RE/MAX Central
Listed by RE/MAX Central
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$143,090.00
$11,924.17/mo
Valuation Metrics
0
DSCR
6.52%
Cap Rate
6.52%
ROI
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Property History
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