671 Midland Ave - Apartments FOR SALE


Garfield, NJ 07026
$6,500,000 USD
201-843-2000
671 Midland Ave, Garfield, NJ for Sale
$6,500,000 USD
Apartments - FOR SALE
1/23
null | 5.94% Cap Rate

671 Midland Ave
Garfield, NJ 07026


HIGHLIGHTS

  • Select units have been remodeled to include washer/dryer in unit and split AC
  • Across the street from train station
  • Tons of upgrades - roof, hot water heaters, electrical boxes, front and back deck, gym, and more!
  • Fire alarm up to code
  • 7 units have been completely remodeled
  • Coin-Op laundry in basement adds extra income

OVERVIEW

Large apartment complex featuring 25 one-bedroom units (975 sq ft each) on two stories with storage possibilities in basement. Properties includes a large parking lot for 26 cars to accommodate tenants and guests, as well as newly added lighting to the lot. The property has seen several recent upgrades - new paint to the walls and doors and new flooring with washer/dryer and AC split systems in select units, new gym, front and back decks, laundry room (coin operated adds extra income) and bathroom in basement, new roof (3 years old), new electrical boxes, hot water heaters, and fire alarm up to code. Entry and All units are metered separately. Tenants pay all utilities. Located right across from train station and bus stops allowing quick and efficient travel locally within New Jersey and other major cities such as New York and Pennsylvania. This property is the perfect value-add opportunity for savvy investors!

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$295 USD /SF

# OF UNITS

25

PRICE/UNIT

$260,000

CAP RATE

5.94%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

25,987 SF

ZONING

22

APN/PARCEL ID

21-00170-01-00075

ASK ABOUT THIS PROPERTY

Halina StrzepekExp Realty, Llc - Saddle BrookMore Info
201-843-2000

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Halina StrzepekExp Realty, Llc - Saddle BrookMore Info
201-843-2000

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