148 Welton StNew Brunswick, NJ 08901

This exceptional investment opportunity presents a 14-unit apartment building located at 148 Welton Street in New Brunswick, New Jersey. The property, classified as a Class C multifamily building, boasts a compelling asking price of $2,325,000, translating to $166,071 per unit. The building comprises two stories and features a mix of one, two, and three-bedroom units. Each unit is equipped with individual heating and hot water furnaces, along with separate gas and electric meters. Currently generating a Net Operating Income (NOI) of $148,239, this property offers a strong 6.38% capitalization rate. A significant advantage lies in the current rental rates, which are approximately 50% below market value, presenting a substantial opportunity to increase revenue upon unit turnover, leveraging New Brunswick's vacancy decontrol regulations. One unit will be vacant at closing. The property's prime location within walking distance of New Brunswick's train station provides easy access to major cities like Newark and New York City, ensuring high demand for rental units. This proximity to the downtown area and its diverse employment opportunities further enhances the property's investment appeal. This is a rare chance to acquire a well-positioned multifamily asset with considerable upside potential.