62 King Cole Rd - Apartments FOR SALE


Hamburg, NJ 07419
$6,000,000 USD
732-535-6863
62 King Cole Rd, Hamburg, NJ for Sale
$6,000,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

62 King Cole Rd
Hamburg, NJ 07419


HIGHLIGHTS

  • 100% Fully Occupied
  • Below Market Rents
  • 1.2 Hrs to NYC by Bus
  • Proximity to Major Employers
  • Route 23, 15 & 206 Accessibility to Major Highways
  • https://sussex.hudsonatlantic.com/

OVERVIEW

The Sussex County Portfolio features two well-positioned properties in Sussex and Hamburg, NJ, comprising a total of 37 apartment units and one retail space. With a mix of studios, one-bedroom, and two-bedroom apartments, these properties, built in 1920 and 1952, offer consistent rental income. The current rents are slightly below market rates, presenting a promising opportunity for gradual rent increases. These properties boast excellent accessibility to New York City, with NJ Transit buses providing direct service from the Route 23 Southbound at St. John’s Church bus stop in Sussex to the Port Authority Bus Terminal in approximately 1 hour and 10 minutes. Major roadways like Routes 15, 206, and 23 further enhance connectivity. Residents benefit from a wealth of local amenities, including parks, wildlife refuges, and recreational activities such as hiking and golfing. The suburban tranquility is complemented by easy access to essential services, shopping, and dining options, supported by well-regarded schools. Additionally, the proximity to major employers such as Crystal Springs Resort, Newton Medical Center, Selective Insurance, Mountain Creek, and Thor Labs offers diverse job opportunities. https://sussex.hudsonatlantic.com/

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$500 USD /SF

# OF UNITS

38

PRICE/UNIT

$157,895

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

SUSSEX COUNTY VALUE-ADD PORTFOLIO

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

RR

APN/PARCEL ID

09-00011-0000-00016

ASK ABOUT THIS PROPERTY

Nick FavoritoHudson Atlantic Realty Advisors, IncMore Info
732-535-6863

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Nick FavoritoHudson Atlantic Realty Advisors, IncMore Info
732-535-6863

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