31-53 Arch StHigh Bridge, NJ 08829

Property Details for 31-53 Arch St

Year built

1910

Lot size

2.80 AC

Property type

Apartment buildings

Description

This exceptional investment opportunity in desirable High Bridge, New Jersey, presents three well-maintained apartment buildings totaling twelve units on a picturesque 2.8-acre lot. The property, situated at 31-53 Arch St, boasts a strong annual net operating income (NOI) of approximately $140,000, yielding a compelling 5.83% capitalization rate. The asking price is $2,400,000. Each building houses four apartments, offering a mix of two- and three-bedroom units, many featuring updated eat-in kitchens and full baths. Ten units have two bedrooms, while two offer three bedrooms. Four units include full basements. Residents enjoy ample living space, along with private decks, patios, or front porches. The property provides 24 off-street parking spaces (two per unit), public water and sewer, and is conveniently located near major transportation routes (Routes 78, 22, and 31), train and bus stations, and local amenities. The property is zoned R-3 and was built in 1910, featuring two stories. This represents a solid investment with long-term tenants and potential for increased income due to some below-market rentals. The property's central location offers easy access to commuting routes, dining, shopping, recreational activities, and highly-rated schools. Commercial MLS# 3932187.

Location Insight

City

High Bridge

County

Hunterdon

State

New Jersey

Latitude

40.6638

Longitude

-74.893

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