31-53 Arch St - Apartments FOR SALE


High Bridge, NJ 08829
$2,400,000 USD
908-439-3300
31-53 Arch St, High Bridge, NJ for Sale
$2,400,000 USD
Apartments - FOR SALE
1/46
null | 5.83% Cap Rate

31-53 Arch St
High Bridge, NJ 08829


OVERVIEW

An exceptionally rare investment opportunity in Hunterdon County consists of three residential buildings, each with four units, housing a total of 12 apartments. These well-maintained apartment buildings sit on 2.8 picturesque acres in High Bridge. Currently netting approx. $140k in annual income with the potential for even more, it represents a solid investment with a steady cash flow, long-term tenants, and some below-market rate rentals for an exceptional opportunity. All units have spacious living rooms, expansive and updated eat-in kitchens, full updated baths and a laundry in each unit. Ten units have two bedrooms and two units offer three bedrooms. Four units have full basements. Located in a scenic rural area, the units also offer decks and/or patios and front porches for warm weather enjoyment. Each unit has two spaces for off-street parking, public water and sewer. This central location is minutes to train and bus stations as well as Routes 78, 22 and 31 for commuters. The area also provides a variety of local dining, shopping, recreational activities and top-rated schools, enhancing this unique investment opportunity.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$213 USD /SF

# OF UNITS

12

PRICE/UNIT

$200,000

CAP RATE

5.83%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Arch Residences

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

24

LAND DETAILS

LAND ACRES

2.8 AC

LAND SF

121,968 SF

ZONING

R-3

APN/PARCEL ID

14-00031-0000-00002-02

ASK ABOUT THIS PROPERTY

Karen MartinoTurpin Real Estate, Inc.More Info
908-439-3300

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Karen MartinoTurpin Real Estate, Inc.More Info
908-439-3300

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