117-119 N 3rd AVE Active Save Request In-Person Tour Request Virtual Tour
Highland Park,NJ 08904
Key Details
Property Type Multi-Family
Sub Type 4 Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,208 sqft
Price per Sqft $320
MLS Listing ID 2601905R
Year Built 1926
Annual Tax Amount $22,817
Property Sub-Type 4 Family
Property Description
Welcome to your next cash-flowing asset in the heart of Highland Park! This fully leased 4-unit apartment building offers strong in-place income with upside potential perfect for a savvy investor or an owner-occupant looking to house hack. The property features a balanced mix of *two 2-bedroom/1-bath units* and *two 3-bedroom/1-bath units*, with one of the 3-bedroom units recently renovated and commanding $450 more in monthly rent than its unrenovated counterpart - offering a clear value-add pathway. $84,000 Net Operating Income. Offered at a 6.25% in-place CAP rate with Pro Forma to 7.25% with light renovations. All leases in place through July 2026. Recent upgrades include a full conversion to gas, a brand-new ultra-efficient gas boiler, and a new main waterline, offering peace of mind and reduced operating expenses for years to come. This property has enjoyed zero vacancy and consistent rental demand year after year. Its prime location near Rutgers University and New Brunswick makes it highly attractive to qualified tenants, including academics, graduate students, and medical professionals. Units rent quickly and easily with minimal turnover. Whether you're an investor seeking strong returns or an owner-occupant looking to offset your mortgage, this is a rare opportunity to own a fully leased, income-producing asset in a high-demand rental market. Schedule a showing today!
Location
State NJ
County Middlesex
Interior
Cooling A/C Wall Unit(s),A/C Window Unit(s)
Exterior
Exterior Feature Porch(es) - Open
Utilities Available Electricity Connected,Natural Gas Connected
Building
Lot Description Near Train,Level
Story 2
Sewer Public Sewer
Water Public