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Listed by Michael Joo Howard Hanna Rand Realty, Old Tappan
$1,065,000
Est. payment /mo
4 Baths
Open House
Sat Sep 13, 12:00pm - 2:00pm
Sun Sep 14, 12:00pm - 2:00pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 4 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25032451
Style 4 Family
Full Baths 4
Property Sub-Type 4 Family
Property Description
Exceptional 4-family in prime Englewood with an unheard of in-place 8% cap rate & projected pro forma 8.9% cap rate. Cash on cash returns are phenomenal, with 8.7% in place & 12.2% projected @ 25% down. Only 8 four-families sold in Bergen County over the past 6 months, underscoring how rare opportunities like this are. | The two upper units are duplex-style 2BR+office (flex 3BR), commanding higher rents than typical 2BR layouts, while the other two are spacious 2BRs. All units offer upside through market rent adjustments, even before any renovations. The basement also has easy potential for coin-operated laundry to generate ancillary income. | Investors benefit from 6 yr old roof, 4 boilers installed in 2016, 4 hot water heaters replaced in past 3 yrs, & fully separate PSE&G utils with 5 elec meters & 4 gas meters -- a setup that minimizes near-term expenses & landlord responsibility. | Current rent roll exceeds $108K annually w/ NOI of approx. $85K. Proj. rent roll $118K+, pro forma NOI ~ $95K. The owner’s duplex CAN be delivered vacant, creating immediate opportunity for a market-rate rental or personal use by an owner-occupant. | TEXT 2O12849OO9. | Located on a quiet dead-end street just blocks from downtown Englewood & close to transit, schools, restaurants, & shopping -- as well as MacKay Park w/ its ice rinks, tennis/bball courts, & more -- this property offers strong returns, updated systems, & one of Bergen County’s most compelling multifamily opportunities.
Location
State NJ
County Bergen
Interior
Laundry In Unit, See Remarks
Others
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