Elmwood Court 26-30 Elmwood Ave 32 Unit Apartment Building $7,149,792 CAD ($223,431 CAD/Unit) 6.30% Cap Rate Irvington, NJ 07111

Elmwood Court is a 32-unit multifamily asset located at 26–30 Elmwood Avenue in Irvington. Constructed in 1925, the property consists of two four-story buildings and features a unit mix of one and two-bedroom apartments. The asset offers practical on-site amenities including controlled access, surface parking, on-site management, 24-hour access, and online services, while unit features include air conditioning, heating, high-speed internet access, kitchens, ranges, and refrigerators. Elmwood Court presents a compelling value-add opportunity, with the ability to increase rents from in-place levels to market-supported levels through targeted unit upgrades and operational improvements, driving enhanced income and overall asset performance.
The property is situated in a dense residential neighborhood near Irvington Park and local retail corridors along Springfield and Chancellor Avenues, providing convenient access to grocery, dining, and everyday services. Residents benefit from nearby NJ Transit bus routes within walking distance and a roughly 10-minute drive to South Orange Station, which offers direct rail service to New York Penn Station in approximately 30 minutes. In addition, the property enjoys strong regional connectivity via the Garden State Parkway and Interstate 78, while maintaining proximity to major employment centers, supporting consistent rental demand and long-term occupancy.
For additional information, please visit: https://elmwood.hudsonatlantic.com