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42 Lester St 6 Unit Apartment Building $1,917,594 CAD ($319,599 CAD/Unit) 6.36% Cap Rate Wallington, NJ 07057
Executive Summary
BERGEN COUNTY MULTIFAMILY ASSET
42 Lester Street, a recently renovated 6-unit multifamily property in Wallington, NJ
Investment Highlights
• Asking Price: $1,400,000
• Units: 6 (five 1BRs + one 1BR loft with outdoor patio)
• Price/Unit: $233,333
• Parking: 4 on-site spaces
Key Features
• Fully renovated in 2023 – minimal near-term CapEx
• Stabilized cash flow with immediate rent growth potential
• Strong Bergen County commuter location with excellent access to highways and NYC transit
This property offers investors a rare chance to acquire a turnkey, Class-A condition asset with both near-term rental upside and long-term stability.
42 Lester Street, a recently renovated 6-unit multifamily property in Wallington, NJ
Investment Highlights
• Asking Price: $1,400,000
• Units: 6 (five 1BRs + one 1BR loft with outdoor patio)
• Price/Unit: $233,333
• Parking: 4 on-site spaces
Key Features
• Fully renovated in 2023 – minimal near-term CapEx
• Stabilized cash flow with immediate rent growth potential
• Strong Bergen County commuter location with excellent access to highways and NYC transit
This property offers investors a rare chance to acquire a turnkey, Class-A condition asset with both near-term rental upside and long-term stability.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$184,048
|
$55.98
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,521
|
$1.68
|
| Effective Gross Income |
$178,527
|
$54.30
|
| Taxes |
$22,317
|
$6.79
|
| Operating Expenses |
$30,776
|
$9.36
|
| Total Expenses |
$53,093
|
$16.15
|
| Net Operating Income |
$125,434
|
$38.15
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $184,048 |
| Annual Per SF | $55.98 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,521 |
| Annual Per SF | $1.68 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $178,527 |
| Annual Per SF | $54.30 |
| Taxes (CAD) | |
|---|---|
| Annual | $22,317 |
| Annual Per SF | $6.79 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $30,776 |
| Annual Per SF | $9.36 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $53,093 |
| Annual Per SF | $16.15 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $125,434 |
| Annual Per SF | $38.15 |
Property Facts
| Price | $1,917,594 CAD | Building Class | C |
| Price Per Unit | $319,599 CAD | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 3,288 SF |
| Cap Rate | 6.36% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1945/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.22/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R2 - Residential | ||
| Price | $1,917,594 CAD |
| Price Per Unit | $319,599 CAD |
| Sale Type | Investment |
| Cap Rate | 6.36% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,288 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1945/2023 |
| Parking Ratio | 1.22/1,000 SF |
| Zoning | R2 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Eat-in Kitchen
- Kitchen
- Oven
- Carpet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,774 CAD | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 65-00013-0000-00025 | Total Assessment | $990,377 CAD |
| Land Assessment | $293,617 CAD | Annual Taxes | $22,317 CAD ($6.79 CAD/SF) |
| Improvements Assessment | $696,760 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
65-00013-0000-00025
Land Assessment
$293,617 CAD
Improvements Assessment
$696,760 CAD
Total Assessment
$990,377 CAD
Annual Taxes
$22,317 CAD ($6.79 CAD/SF)
Tax Year
2025
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42 Lester St
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