Investment Overview

Marcus & Millichap is pleased to present Prime South Apartments, a newly constructed, fully stabilized mixed-use investment located at 1369 South Avenue in Plainfield, New Jersey. Completed in 2023, the property consists of 20 luxury apartment homes together with fully leased street-level commercial space occupied by ALT Spinal Health & Rehab, providing diversified in-place income from a regional healthcare operator. The property offers investors the rare opportunity to acquire new construction without development or lease-up risk. Spacious one- and two-bedroom residences feature private balconies, in-unit laundry, stainless-steel appliances and contemporary finishes, resulting in strong tenant demand with minimal near-term capital requirements. While the asset is fully stabilized, residential rents remain below comparable new construction throughout the Plainfield market, providing a clear path for future NOI growth through lease renewals. Located approximately one-half mile from NJ Transit's Netherwood Station, Prime South benefits from direct rail access to Newark and Manhattan while continuing to benefit from investment along Plainfield's evolving South Avenue corridor. Prime South represents an opportunity to acquire stabilized income, modern construction and defined upside within one of Union County's growing transit-oriented submarkets.