Investment Overview

Marcus & Millichap is excited to bring the property located at 128 E. 4th Avenue (Block: 3201 Lot: 7), Roselle, New Jersey to market for sale. The property is a licensed 12-unit rooming house with a 3,929 +/- building on a 58.5'x200' lot measuring 11,700 square feet of 0.269-acres in the highly dense residential "F" Zone and a flood hazard zone (X), which is not an active flood zone. The rooming house is grandfathered as a legal nonconforming use. Tenants in the building occupy their rooms under annual leases. Heat and hot water are covered by the landlord. The hot water heater and boiler are in the basement of the building. The property is in the middle of the southern side of East 4th Avenue between Chestnut Street and Walnut Street in Roselle, New Jersey in the heart of Union County. The location gives drivers quick access to the regional thoroughfares like Routs 28 and the Garden State Parkway. The location is also well serviced by local NJ Transit bus routes providing linkages into nearby rail hubs for New York City Transit. Tenants in the building benefit from the high walkability score of 70/100, enabling them to take advantage of easy access to local retail, dining and green spaces. The historic Warinanco Park is located roughly 0.3 miles away. The property located at 128 E. 4th Avenue represents a solid investment based on the strength of the current income, the upside potential through easing up the vacant units and the underlying real estate. Seller financing is available with a 50% LTV.