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Multifamily

Warren & 19th Street Apartments

773 E 19th St, Paterson, NJ 07501

Listing Price: $3,200,000

Cap Rate
6.61%
Number of Units
22
Occupancy
95.0%
Price/Unit
$145,455
Price/Gross SF
$189.35
Gross SF
16,900

Investment Overview

Fee simple interest in 773 E 19th St, Paterson, NJ (16 units) and 149 Warren St, Paterson, NJ (6 units). This is a value-add opportunity offered at an in-place cap rate of 6.22% with a pro forma cap rate of 8.05%. The assets effective gross income is $365,472. Please reach out to the exclusive listing team for more information, including a current debt quote from MMCC (Marcus & Millichap Capital Corp).

Investment Highlights

  • Value Add Opportunity - Current rents are 21% below market with the ability to increase them through modest renovations
  • Large Units - There are 18 two-bedrooms and 4 three-bedrooms
  • Central Location - Easy access to Garden State Parkway, I-95, I-80, Routes 19 and 21, and more

Exclusively Listed By

Multifamily

Warren & 19th Street Apartments

Listing Price: $3,200,000

Cap Rate
6.61%
Number of Units
22
Occupancy
95.0%
Price/Unit
$145,455
Price/Gross SF
$189.35
Gross SF
16,900

Investment Highlights

  • Value Add Opportunity - Current rents are 21% below market with the ability to increase them through modest renovations
  • Large Units - There are 18 two-bedrooms and 4 three-bedrooms
  • Central Location - Easy access to Garden State Parkway, I-95, I-80, Routes 19 and 21, and more

Investment Overview

Fee simple interest in 773 E 19th St, Paterson, NJ (16 units) and 149 Warren St, Paterson, NJ (6 units). This is a value-add opportunity offered at an in-place cap rate of 6.22% with a pro forma cap rate of 8.05%. The assets effective gross income is $365,472. Please reach out to the exclusive listing team for more information, including a current debt quote from MMCC (Marcus & Millichap Capital Corp).

Exclusively Listed By

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