402-406 Bloomfield Ave Bloomfield, NJ 07003

This exceptional commercial property, located at 402-406 Bloomfield Avenue in Bloomfield Township, New Jersey (zip code 07003), presents a lucrative investment opportunity. The 4,885 square foot building sits on a 0.21-acre lot and boasts a total of nine units, comprising three one-bedroom apartments, three two-bedroom apartments, and three street-level retail spaces. Recent extensive renovations have transformed the property, including a brand new roof and siding, updated stonework, and a complete overhaul of all apartments and common areas. Interior upgrades are equally impressive, featuring new windows and doors, tile flooring, bathtubs, vanities, kitchen cabinets, stoves, and baseboard heaters in each apartment. Two new water tanks (75 and 80 gallons) have also been installed. All units are separately metered for electricity and heat, with the owner responsible for hot and cold water. The property's strategic location offers unparalleled convenience, being just steps away from NYC transportation options, a variety of shopping and dining establishments, and providing easy access to both the north and south sections of the Garden State Parkway. The asking price is $1,650,000, representing a 6.3% cap rate. This is a turnkey investment ready for immediate income generation.