12-16 Ampere Pky - Apartments FOR SALE


East Orange, NJ 07017
$2,900,000 USD
718-360-5432
12-16 Ampere Pky, East Orange, NJ for Sale
$2,900,000 USD
Apartments - FOR SALE
1/8
null | 5.39% Cap Rate

12-16 Ampere Pky
East Orange, NJ 07017


HIGHLIGHTS

  • 20,000 SF Mixed-Use Building
  • Value-Add Opportunity
  • Ample room to grow rent through capital improvement plan
  • Prime location in East Orange, NJ
  • High Vehicular Traffic

OVERVIEW

IPRG NJ, as the exclusive broker, is proud to present the sale of the property located at 12 Ampere Parkway in the Ampere neighborhood of East Orange, New Jersey. The 3-story, 12,342 square foot mixed-use building consisting of 19-apartments and 2-ground floor retail units. The two retail tenants located in the building are "His & Hers Hair Boutique" and "K&E Mini Market." Two billboards are also located at the property and are income producing. This property provides an excellent value-add opportunity for investors, as the apartment rents are under market-rate and have flexible lease options currently in place. The unit mix consists of 17 one-bedrooms, 2 studios, and two retail units. Additionally, the asset is located in a prime neighborhood of East Orange.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$235 USD /SF

# OF UNITS

21

PRICE/UNIT

$138,095

CAP RATE

5.39%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,504 SF

ZONING

Gateway Commercial (C-1)

APN/PARCEL ID

05-00097-0000-00003,05-00097-0000-00003-0000-B01,05-00097-0000-00003-0000-B02

ASK ABOUT THIS PROPERTY

Jack DrillockInvestment Property Realty GroupMore Info
718-360-5432

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Jack DrillockInvestment Property Realty GroupMore Info
718-360-5432

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.