325 Grantwood Blvd 12 Unit Apartment Building $3,448,037 CAD ($287,336 CAD/Unit) 5.75% Cap Rate Palisades Park, NJ 07650

Marcus & Millichap is pleased to present 325 Grantwood Blvd, a well-maintained, two-story garden-style apartment building in Palisades Park, Bergen County, NJ. This 12-unit property offers a compelling value-add opportunity in one of Northern New Jersey’s most desirable rental markets. The building features 11 private garages, additional on-site parking, storage facilities, and a laundry room equipped with washers and dryers. Units are separately metered, ensuring operational efficiency.
The property benefits from strong local demographics, with a median household income of $132,427 and nearly 30% of households earning $150,000 or more. Palisades Park’s low owner-occupancy rate and high median home price ($704,000) create sustained rental demand. Favorable rent control ordinances allow annual increases of 4%, and upon vacancy, rents can be adjusted to market levels, providing significant upside potential.
Current gross rental income of $231,677 can be increased to $278,400, representing a 20% boost, while NOI is projected to rise from $144,418 to $176,124. This translates to an improved cap rate of 7.02% and a future cash-on-cash return of 6.69%. With minimal maintenance requirements and strong market fundamentals, 325 Grantwood Blvd is an ideal acquisition for investors seeking stable cash flow and long-term growth.