595 New Brunswick AvePerth Amboy, NJ 08861
- Residential income properties
- 0.29 AC
Property Details for 595 New Brunswick Ave
- Lot size
- 0.29 AC
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This exceptional 12-unit apartment building, located at 595 New Brunswick Ave, Perth Amboy, NJ 08861, presents a compelling investment opportunity. Boasting a 100% occupancy rate and a substantial net operating income (NOI) of $194,990, this property offers a current cap rate of 6.50% and a pro-forma cap rate of 7.51%. The building, which underwent renovations in 2024, comprises 12,000 square feet of rentable space across two stories, situated on a 0.29-acre lot zoned R-25. Ample parking is provided with 24 on-site spaces. Each of the 12 units is priced at $250,000, resulting in an asking price of $3,000,000 for the entire complex. The property benefits from a strong demographic profile, with over 122,000 people residing within a three-mile radius. Convenient access to major roadways, including the Garden State Parkway, Routes 1, 9, and 440, enhances its appeal. Nearby national retailers such as McDonald's, Taco Bell, Family Dollar, ShopRite, Walgreens, Subway, AutoZone, and Popeyes provide added convenience and contribute to the property's strong rental demand. This is a turnkey investment ready for immediate income generation.
Location Insight
- City
- Perth Amboy
- County
- Middlesex
- State
- New Jersey
- Latitude
- 40.5199
- Longitude
- -74.2842
Comparable in this City
Similar Nearby for Sale
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