164 61St StWest New York, NJ 07093

Property Details for 164 61St St

Property type

Mixed-use properties

Description

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.

Location Insight

City

West New York

County

Hudson

State

New Jersey

Latitude

40.7878

Longitude

-74.0097

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