Multi-Family $ 1,350,000

117-119 N 3rd AVE

Highland Park, NJ 08904

  • 4,208 SqFt
  • 1926 Year Built
Welcome to your next cash-flowing asset in the heart of Highland Park! This fully leased 4-unit apartment building offers strong in-place income with upside potential perfect for a savvy investor or an owner-occupant looking to house hack. The property features a balanced mix of *two 2-bedroom/1-bath units* and *two 3-bedroom/1-bath units*, with one of the 3-bedroom units recently renovated and commanding $450 more in monthly rent than its unrenovated counterpart - offering a clear value-add pathway. $84,000 Net Operating Income. Offered at a 6.25% in-place CAP rate with Pro Forma to 7.25% with light renovations. All leases in place through July 2026. Recent upgrades include a full conversion to gas, a brand-new ultra-efficient gas boiler, and a new main waterline, offering peace of mind and reduced operating expenses for years to come. This property has enjoyed zero vacancy and consistent rental demand year after year. Its prime location near Rutgers University and New Brunswick makes it highly attractive to qualified tenants, including academics, graduate students, and medical professionals. Units rent quickly and easily with minimal turnover. Whether you're an investor seeking strong returns or an owner-occupant looking to offset your mortgage, this is a rare opportunity to own a fully leased, income-producing asset in a high-demand rental market. Schedule a showing today!
Listed by REAL

VIRTUAL TOUR

PROPERTY DETAIL

  • Key Details

    Property Type Multi-Family

    Sub Type 4 Family

    Listing Status Under Contract

    Purchase Type For Sale

    Square Footage 4, 208 sqft

    Price per Sqft $320

    MLS Listing ID 2601905R

    Year Built 1926

    Annual Tax Amount $22,817

    Lot Dimensions 0.00 x 0.00

    Property Sub-Type 4 Family

    Source CJMLS API

  • Location

    State NJ

    County Middlesex

  • Rooms

    Basement Partial, Laundry Facilities

  • Building

    Lot Description Near Train, Level

    Story 2

    Sewer Public Sewer

    Water Public

  • Interior

    Interior Features Unit 1(2 Bedrooms, Kitchen, 1 Bath), Unit 2(3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 3(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 4(3 Bedrooms, Kitchen, 1 Bath, Living Room)

    Cooling A/C Wall Unit(s), A/C Window Unit(s)

    Appliance Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator), Unit 3(Range/Oven, Refrigerator), Unit 4(Range/Oven, Refrigerator)

    Heat Source Natural Gas

  • Exterior

    Exterior Feature Porch(es) - Open

    Utilities Available Electricity Connected, Natural Gas Connected

    Porch Porch(es) - Open

  • Others

    Senior Community no

    Tax ID 117119NO3RDAVE

    Ownership Fee Simple

    Energy Description Natural Gas

    Virtual Tour https://www.propertypanorama.com/instaview/msx/2601905R

SIMILAR HOMES FOR SALE

Check for similar Multi-Familys at price around $1,350,000 in Highland Park,NJ

GET IN TOUCH

Your Full Name
Your Phone Number*
Write Your Message