For Sale
$1,050,000

164 61St StWest New York, NJ 07093

High-Yield, 5-Unit Building, 7.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use property, located at 164 61st St in West New York, New Jersey (zip code 07093), presents a compelling investment opportunity. The building, situated on a 2,500 square foot lot, features a two-story structure encompassing five units: four residential apartments and one commercial space. Currently operating at 100% occupancy, the property boasts a strong net operating income (NOI) of $78,800, yielding an attractive 7.5% capitalization rate. The asking price is $1,050,000. The building offers four parking spaces in a two-car garage, a significant advantage in this location. Each apartment is separately metered for gas and electricity, minimizing landlord responsibilities and maximizing efficiency. The property is zoned for mixed use, providing flexibility for future development or operational adjustments. This low-maintenance investment property is ideally situated in the heart of West New York, offering convenient access to local amenities and transportation. The building's strong performance and prime location make it an excellent addition to any investment portfolio. This corner property is a turnkey operation, ready for immediate income generation.

Highlights

  • Separate utility meters for each unit.
  • Detached two-car garage.
  • Fully occupied building.
  • Four residential apartments and one commercial unit.

Property Details for 164 61St St

Property type
Mixed-use properties
Buildings
1
Stories
2

Location Insight

City
West New York
County
Hudson
State
New Jersey
Latitude
40.7878252
Longitude
-74.00965
164 61St St, West New York, New Jersey

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164 61St St
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