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231-237 Dayton Ave, Clifton, NJ, 7011

231-237 Dayton Ave
$4,716,000

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Highlights

INVESTMENT HIGHLIGHTS

VALUE-ADD OPPORTUNITY

  • 19 Units – 16 Apartments + 3 Commercial
  • 3 Contiguous Buildings
  • 20% Upside
  • 6.35% Cap Rate
  • 6.0% Cash on Cash

BUILDING HIGHLIGHTS

  • 16 Residential + 3 Commercial Units
  • All units are free market
  • Two buildings gut rehabbed & one is ground up (235 Dayton)
  • 15+ Year Ownership
  • 14 Storage Units
  • 231 & 235 have HVAC in all units
  • Tenants pay for heat, hot water, cooking gas & electric
  • Landlord pays for common area electric & water/sewer
  • Prime location in Clifton, NJ

CONVENIENT TRANSPORTATION

  • The building is approximately a 10 min walk to Lexington Ave At Portland Ave bus stop which provides a 55-minute trip into Midtown Manhattan

Location

Agents

Broker of Record

Patrick Forde

License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
52 Park Avenue, Suite B5, Park Ridge NJ 07656

Key Information

Cap Rate
6.35%
Tot. SF
5,400
Units
19
Type
Apartments
NOI
$299,484