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Mixed-Use

Irvington Mixed Use Apartments

887 Springfield Ave, Irvington, NJ 07111

Listing Price: $2,700,000

Cap Rate
7.47%
Number of Units
12
Occupancy
100.0%
Price/Unit
$225,000
Price/Gross SF
$192.86
Gross SF
14,000

Investment Overview

Fee simple interest in 879-889 Springfield Ave, Irvington, NJ (12-unit mixed use property). This opportunity is offered at an in-place cap rate of 7.18% with a pro forma cap rate of 7.35%. The property has a Gross Potential Income of $284,487. Please reach out to the exclusive listing team for more information, including a current debt quote from MMCC (Marcus & Millichap Capital Corp).

Investment Highlights

  • 7.47% Cap Rate 9.01% Cash-on-Cash Return 14.06% Total Return
  • Large three-bedroom apartments (8), retail spaces (4) Six of eight apartments delivered fully renovated
  • Located 0.2 miles from Irvington Bus Terminal (36-minute route to Midtown Manhattan), and close proximity to Garden State Parkway, Downtown Newark employers, convenience stores, restaurants, and more.
  • Rapidly growing multifamily market with numerous new construction projects nearby

Exclusively Listed By

Financing By

Mixed-Use

Irvington Mixed Use Apartments

Listing Price: $2,700,000

Cap Rate
7.47%
Number of Units
12
Occupancy
100.0%
Price/Unit
$225,000
Price/Gross SF
$192.86
Gross SF
14,000

Investment Highlights

  • 7.47% Cap Rate 9.01% Cash-on-Cash Return 14.06% Total Return
  • Large three-bedroom apartments (8), retail spaces (4) Six of eight apartments delivered fully renovated
  • Located 0.2 miles from Irvington Bus Terminal (36-minute route to Midtown Manhattan), and close proximity to Garden State Parkway, Downtown Newark employers, convenience stores, restaurants, and more.
  • Rapidly growing multifamily market with numerous new construction projects nearby

Investment Overview

Fee simple interest in 879-889 Springfield Ave, Irvington, NJ (12-unit mixed use property). This opportunity is offered at an in-place cap rate of 7.18% with a pro forma cap rate of 7.35%. The property has a Gross Potential Income of $284,487. 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

Financing By

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