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43 Belmont Ave 15 Unit Apartment Building $4,565,880 CAD ($304,392 CAD/Unit) 4.92% Cap Rate Garfield, NJ 07026
Investment Highlights
- Valid DCA State Inspection - Inspection certificate good through 2031
- No Rent Control - Garfield is a no rent control municipality
- Access to Mass Transit - Less than 1-mile from Garfield Train Station & NJT bus stop across the street
- Significant Rental Upside - 20%+ in residential rents
- Low Maintenance Property
Executive Summary
The Belmont Avenue apartments consist of fifteen (15) apartments over two (2) retail storefronts.
The residential unit mix consists of one (1) studio/ 1BA unit, thirteen (13) 1BR/ 1BA units, & one (1) 2BR/ 1BA units. Landlord responsibilities include paying for the heat, hot and cold water, and common electric. Tenants pay for their own cooking gas and electricity.
The property has been owned by the same family for 40+ years and provides investors with a rare value add multifamily opportunity in a Bergen County municipality with no rent control.
The residential unit mix consists of one (1) studio/ 1BA unit, thirteen (13) 1BR/ 1BA units, & one (1) 2BR/ 1BA units. Landlord responsibilities include paying for the heat, hot and cold water, and common electric. Tenants pay for their own cooking gas and electricity.
The property has been owned by the same family for 40+ years and provides investors with a rare value add multifamily opportunity in a Bergen County municipality with no rent control.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | - | - |
| 2+1 | 1 | - | - |
| Studios | 1 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 21-00107-0000-00033 | Improvements Assessment | $1,124,175 CAD |
| Land Assessment | $259,425 CAD | Total Assessment | $1,383,600 CAD |
Property Taxes
Parcel Number
21-00107-0000-00033
Land Assessment
$259,425 CAD
Improvements Assessment
$1,124,175 CAD
Total Assessment
$1,383,600 CAD
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43 Belmont Ave
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