156 Brown Ave - Apartments FOR SALE


Prospect Park, NJ 07508
$999,999 USD
973-359-5886
156 Brown Ave, Prospect Park, NJ for Sale
$999,999 USD
Apartments - FOR SALE
1/44
null | Request Cap Rate

156 Brown Ave
Prospect Park, NJ 07508


HIGHLIGHTS

  • Income Generator
  • Large Parcel
  • Great Residential Location

OVERVIEW

EXCELLENT RARE OPPORTUNITY!!! Two houses on .45 acre property, including one 3-family and one 2-family. 4 apartments are currently tenant occupied. Owner's apartment is a 2/3-bedroom, 1.1 bath first floor residence shown in the photos. All units include separate utilities, washer/dryer hookups and ample parking. Front house was originally built in 1921. Rear house was converted to 2-family in 2014. Apartments are in great condition with updated kitchens. Unit 1 (1st fl) has 2/3 beds, 1.1 baths with laundry in basement. Unit 2 (2nd fl) has 1 bed, 1 bath with access to attic. Unit 3 (1st and 2nd fl) has 2 beds, 1 bath with laundry in basement. Rear house apartments are 10 years old with hardwood floors, central AC and laundry in units. Front house has basement under Unit 1 that is finished, but needs to be renovated. Investors and developers are welcome to inquire. Complete brochure with specs on all apartments (including photos), attic, basements, current/projected rent roll and valuation analysis is available to qualified buyers. Respectable cap rate with room to grow. Please do not trespass on property or disturb tenants. This is a 5-family property, located in a R1 zone. Commercial loans and cash only. Buyer financing capability must be provided prior to in-person showing. Tenants are on written month-to-month leases and up to date on their rents. Showings to be arranged in advance due to 4 sets of tenants. Please call Dawn for further details at 201-755-2633. This property is in an Opportunity Zone.

FOR SALE DETAILS

PRICE

$999,999 USD

PRICE/SF

$133 USD /SF

# OF UNITS

5

PRICE/UNIT

$200,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Two Multifamily Homes On .46 Acres

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1921

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

R-1

APN/PARCEL ID

10-00027-0000-00003

ASK ABOUT THIS PROPERTY

Dawn CoxWeichert RealtorsMore Info
973-359-5886

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Dawn CoxWeichert RealtorsMore Info
973-359-5886

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