344 Kearny AveKearny, NJ 07032

Property Details for 344 Kearny Ave

Year built

1920

Construction

FRAME

Lot size

0.05 AC

Property size (Sq ft)

1,800 SF

Zone code

C3

Property type

Other commercial real estate

APN

07 00231-0000-00002

APU

700231000000002

Description

This exceptional investment opportunity presents an 11-unit rooming house located at 344 Kearny Avenue, Kearny, New Jersey, 07032. The property, situated on a 2,374 square foot lot, boasts a desirable C-3 zoning classification. Built in 1920 and extensively renovated in 2017, this two-story building currently enjoys 100% occupancy, generating substantial income. Each of the 11 units is fully furnished with a bed, mattress, nightstand, chest, and dresser, ensuring consistent rental appeal. The property includes security cameras and a sprinkler system, enhancing safety and value. Financial records indicate a gross annual income of $93,480, with annual expenses including taxes ($15,017), insurance (approximately $2,700), and utilities ($7,028). This translates to a compelling 7% cap rate. The landlord covers all utilities and internet for tenants, simplifying management. This well-maintained, legally operating, and state-certified senior living facility offers a rare chance to acquire a high-performing, income-producing asset in a prime location. The 8-foot ceilings throughout contribute to a comfortable living environment. This is a turnkey operation ready for a new owner to step in and continue the success.

Location Insight

City

Kearny

County

Hudson

State

New Jersey

Latitude

40.7627

Longitude

-74.1492

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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