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Multifamily

Maple Ave Apartments

125 Maple Ave, Irvington, NJ 07111

Listing Price: $1,470,000

Cap Rate
6.15%
Number of Units
12
Price/Unit
$122,500
Price/Gross SF
$166.05
Gross SF
8,853

Investment Overview

SUMMARY OF TERMS INTEREST OFFERED Fee simple interest in 125 Maple Avenue, Irvington, New Jersey. TERMS OF SALE This property is being offered free and clear from debt for an asking price of $1,470,000. Financing is available through MMCC. For further details, please review the Financial Analysis of this offering memorandum. PROPERTY TOURS Prospective purchasers are encouraged to schedule a guided virtual tour with the Marcus & Millichap listing agents. In-person tours will be scheduled on selected dates after prospective purchasers have submitted Proof of Funds and an initial non-binding Letter of Intent. At no time shall the tenants management or staff be contacted without prior approval. OFFER PROTOCOL A non-binding Letter of Intent is required prior to scheduling in-person tours. Offers will be evaluated based on: • Price • Deposit Amount and Terms • Equity Source • Debt - if applicable, specify the terms underwritten and if offer is contingent on financing • Timing - due diligence and estimated closing date Buyers are encouraged to visit the Due Diligence available on Marcus & Millichap website in order to reduce contingencies and time needed to close the transaction.

Investment Highlights

  • Value Add opportunity - current rents are 28% below market with the ability to significantly increase through modest renovations
  • - New roof (2021) - Newer hot water heater motors - Tenants responsible for electric - Security cameras - 9 off-street parking spaces - Clean environmental (UST previously pulled with permits)
  • CENTRAL ESSEX COUNTY LOCATION - Easy access to Garden State Parkway, I-78, US Hwy 22 - 0.3 mi to Irvington Bus Terminal - 3.2 mi to Downtown Newark , major employers - 3.6 mi Newark Penn Train Station

Exclusively Listed By

Multifamily

Maple Ave Apartments

Listing Price: $1,470,000

Cap Rate
6.15%
Number of Units
12
Price/Unit
$122,500
Price/Gross SF
$166.05
Gross SF
8,853

Investment Highlights

  • Value Add opportunity - current rents are 28% below market with the ability to significantly increase through modest renovations
  • - New roof (2021) - Newer hot water heater motors - Tenants responsible for electric - Security cameras - 9 off-street parking spaces - Clean environmental (UST previously pulled with permits)
  • CENTRAL ESSEX COUNTY LOCATION - Easy access to Garden State Parkway, I-78, US Hwy 22 - 0.3 mi to Irvington Bus Terminal - 3.2 mi to Downtown Newark , major employers - 3.6 mi Newark Penn Train Station

Investment Overview

SUMMARY OF TERMS INTEREST OFFERED Fee simple interest in 125 Maple Avenue, Irvington, New Jersey. TERMS OF SALE This property is being offered free and clear from debt for an asking price of $1,470,000. Financing is available through MMCC. For further details, please review the Financial Analysis of this offering memorandum. PROPERTY TOURS Prospective purchasers are encouraged to schedule a guided virtual tour with the Marcus & Millichap listing agents. In-person tours will be scheduled on selected dates after prospective purchasers have submitted Proof of Funds and an initial non-binding Letter of Intent. At no time shall the tenants management or staff be contacted without prior approval. OFFER PROTOCOL A non-binding Letter of Intent is required prior to scheduling in-person tours. Offers will be evaluated based on: • Price • Deposit Amount and Terms • Equity Source • Debt - if applicable, specify the terms underwritten and if offer is contingent on financing • Timing - due diligence and estimated closing date Buyers are encouraged to visit the Due Diligence available on Marcus & Millichap website in order to reduce contingencies and time needed to close the transaction.

Exclusively Listed By

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