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Multifamily

15-19 Smith St

15 Smith St, Irvington, NJ 07111

Listing Price: $2,125,000

Cap Rate
4.73%
Number of Units
17
Price/Unit
$125,000
Price/Gross SF
$151.79
Gross SF
14,000

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 15-19 Smith St in Irvington, New Jersey. The property encompasses 17 units consisting of large one bedroom apartments and 13 parking spaces. The building is currently 100% occupied with 27% upside achievable through modest renovations. Irvington has earned a reputation as a city with ideal regional connectivity due to accessible public transportation. The property is located just 0.3 miles from the Irvington Bus Terminal which offers a 45-minute ride to Manhattan. 15-19 Smith St is also located within approximately three miles to Brick Church Train Station in East Orange which offers a 24 minute commute to Manhattan. Additionally, the property has direct access to the Garden State Parkway (0.3 miles away), Interstate 78 (0.5 miles away), Routes 1 & 9 (approx 4 miles away) and more. Irvington is home to a large amount of locally owned companies, including pubs and specialty stores. Although a predominantly urban atmosphere with its close proximity to several neighboring cities, including Newark, Irvington still offers plenty of excitement and outlets.

Investment Highlights

  • The property encompasses 17 large one bedroom apartments and 13 parking spaces. The building is currently 100% occupied and has 27% upside achievable through modest renovations.
  • This asset offers stable cash flow. It's effective gross income is $206,311, representing a 4.73% cap rate at ask and a 6.64% cash-on-cash return with 1-year of I.O.
  • The property is located just 0.3 miles from the Irvington Bus Terminal which offers a 45-minute ride to Manhattan, and has direct access to the Garden State Parkway (0.3 miles away), I-78, and more.

Exclusively Listed By

Multifamily

15-19 Smith St

Listing Price: $2,125,000

Cap Rate
4.73%
Number of Units
17
Price/Unit
$125,000
Price/Gross SF
$151.79
Gross SF
14,000

Investment Highlights

  • The property encompasses 17 large one bedroom apartments and 13 parking spaces. The building is currently 100% occupied and has 27% upside achievable through modest renovations.
  • This asset offers stable cash flow. It's effective gross income is $206,311, representing a 4.73% cap rate at ask and a 6.64% cash-on-cash return with 1-year of I.O.
  • The property is located just 0.3 miles from the Irvington Bus Terminal which offers a 45-minute ride to Manhattan, and has direct access to the Garden State Parkway (0.3 miles away), I-78, and more.

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 15-19 Smith St in Irvington, New Jersey. The property encompasses 17 units consisting of large one bedroom apartments and 13 parking spaces. The building is currently 100% occupied with 27% upside achievable through modest renovations. Irvington has earned a reputation as a city with ideal regional connectivity due to accessible public transportation. The property is located just 0.3 miles from the Irvington Bus Terminal which offers a 45-minute ride to Manhattan. 15-19 Smith St is also located within approximately three miles to Brick Church Train Station in East Orange which offers a 24 minute commute to Manhattan. Additionally, the property has direct access to the Garden State Parkway (0.3 miles away), Interstate 78 (0.5 miles away), Routes 1 & 9 (approx 4 miles away) and more. Irvington is home to a large amount of locally owned companies, including pubs and specialty stores. Although a predominantly urban atmosphere with its close proximity to several neighboring cities, including Newark, Irvington still offers plenty of excitement and outlets.

Exclusively Listed By

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