For Sale
$1,100,000

266 Central AveRamsey, NJ 07446

3-Story Apartment Building, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional three-story apartment building in Ramsey, NJ presents a compelling investment opportunity. Boasting 3,541 square feet on a half-acre lot, the property offers substantial rental income potential. Built in 1958 and extensively renovated in 2012, the building features a main residence with a spacious layout including a grand foyer, living room, dining room, eat-in kitchen, den (convertible to a fifth bedroom), four bedrooms (one primary suite), and three full bathrooms. A separate in-law suite or home occupation space is located on the ground floor, complete with a living room, full bath, laundry room, kitchen, and bonus room, offering independent access. Additional amenities include a two-car garage and a deck overlooking an in-ground pool. The property's strong financial performance is highlighted by a pro-forma NOI of $70,000 and a 6.36% pro-forma cap rate at the asking price of $1,100,000. Its prime location, just half a mile from downtown Ramsey and near local amenities, ensures high occupancy rates and strong rental demand. Convenient access to major transportation routes, including a short drive to the George Washington Bridge and World Trade Center, further enhances its appeal. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable New Jersey location.

Highlights

  • $1,100,000 asking price for this multifamily apartment building.
  • 3,541 square feet on a 0.5-acre lot.
  • 6.36% pro-forma cap rate with a $70,000 pro-forma NOI.
  • Three-story building constructed in 1958, renovated in 2012.
  • Located at 266 S Central Ave, Ramsey, NJ 07446.

Property Details for 266 Central Ave

Property type
Apartment buildings
Square Feet
3,541 SF
Year Built/Renovated
1958/2012
Stories
3
Lot Size (sq. ft)
21,780 SF

Location Insight

City
Ramsey
County
Bergen
State
New Jersey
Latitude
41.048374914315
Longitude
-74.144118374276
266 Central Ave, Ramsey, New Jersey

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266 Central Ave
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