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The Summit 1722-1744 Springfield Ave 30 Unit Apartment Building $20,101,249 CAD ($670,042 CAD/Unit) 5.49% Cap Rate Maplewood, NJ 07040
INVESTMENT HIGHLIGHTS
- Located in the highly desirable town of Maplewood, NJ
- Luxury finishes
- Five-minute drive to the Maplewood Train Station
EXECUTIVE SUMMARY
CBRE, Inc. is pleased to serve as the exclusive advisor for the sale of The Summit (“Property”), a luxury 30-unit apartment building located in the highly desirable town of Maplewood, NJ. Thoughtfully designed and superiorly constructed, The Summit is ideally located within a five minute drive to the Maplewood Train Station and bustling downtown. Amenities include a fully equipped gym, tastefully designed resident lounge, indoor heated parking garage with EV chargers and keyless entry access. Maplewood, hailed by The New York Times as a suburban counterpart to Brooklyn and named one of America’s Coolest Suburbs by Apartment Therapy in 2019, seamlessly blends historic charm, cultural vibrancy, and modern convenience. With its tree-lined streets, well-preserved architecture, and strong community spirit, Maplewood provides residents with the perfect balance of a peaceful suburban lifestyle and the advantages of urban accessibility.
PROPERTY FACTS Under Contract
| Price | $20,101,249 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $670,042 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 5.49% | Building Size | 24,000 SF |
| No. Units | 30 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2025 |
| Property Subtype | Apartment | Parking Ratio | 1.54/1,000 SF |
| Zoning | PRB | ||
| Price | $20,101,249 CAD |
| Price Per Unit | $670,042 CAD |
| Sale Type | Investment |
| Cap Rate | 5.49% |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.46 AC |
| Building Size | 24,000 SF |
| No. Stories | 3 |
| Year Built | 2025 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | PRB |
AMENITIES
UNIT AMENITIES
- Microwave
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Walk-In Closets
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Fitness Center
- Property Manager on Site
- Walking/Biking Trails
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | 781 - 855 |
| 2+2 | 23 | - | 1,137 - 1,540 |
| 3+2 | 1 | - | - |
Walk Score®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 11-00030-04-00137 | Improvements Assessment | $1,396 CAD |
| Land Assessment | $2,617,350 CAD | Total Assessment | $2,618,746 CAD |
PROPERTY TAXES
Parcel Number
11-00030-04-00137
Land Assessment
$2,617,350 CAD
Improvements Assessment
$1,396 CAD
Total Assessment
$2,618,746 CAD
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The Summit | 1722-1744 Springfield Ave
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