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143-149 Prospect Ave 8 Unit Apartment Building $2,411,465 CAD ($301,433 CAD/Unit) 7.20% Cap Rate Irvington, NJ 07111
Investment Highlights
- 8-unit, two-story property located near the Maplewood border.
- Features include an unfinished basement and a 2-car garage with added potential.
- Mix of 2-bedroom units, one 1-bedroom, and one studio, all with eat-in kitchens and full baths.
- Separate utilities, flexible lease expirations, and convenient access to transit, shopping, and schools.
Executive Summary
Excellent investment opportunity near the Maplewood border. This solid 2-story, 8-unit building features 4 apartments on the first floor and 4 apartments on the second floor. Unit breakdown: Apts 1-3 have 2 bedrooms, Apt 4 has 1 bedroom, Apts 5-7 have 2 bedrooms, and Apt 8 is a studio. All apartments include an eat-in kitchen and a full bathroom.Property also offers an unfinished basement and a 2-car garage, with potential use as additional space. All utilities are separate, and owner pays for heating only. Current leases are scheduled to end by the end of the year, providing flexibility for new ownership. Convenient location close to transportation, shopping, and schools.
Property Facts
| Price | $2,411,465 CAD | Building Class | C |
| Price Per Unit | $301,433 CAD | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 6,800 SF |
| Cap Rate | 7.20% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Parking Ratio | 0.88/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $2,411,465 CAD |
| Price Per Unit | $301,433 CAD |
| Sale Type | Investment |
| Cap Rate | 7.20% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 6,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1930 |
| Parking Ratio | 0.88/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 4 | - | - |
1 1
Moderately walkable
70/100
Fairly drivable
50/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 09-00365-0000-00003 | Improvements Assessment | $1,310,046 CAD |
| Land Assessment | $385,834 CAD | Total Assessment | $1,695,880 CAD |
Property Taxes
Parcel Number
09-00365-0000-00003
Land Assessment
$385,834 CAD
Improvements Assessment
$1,310,046 CAD
Total Assessment
$1,695,880 CAD
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Lim Bances Realty
143-149 Prospect Ave
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