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548 Avenue C 16 Unit Apartment Building $4,417,504 CAD ($276,094 CAD/Unit) 6.91% Cap Rate Bayonne, NJ 07002
Investment Highlights
- 16-unit, 100% free market multifamily offered at $3,200,000 | 6.91% cap rate
- All units separately metered; tenants pay gas, heat, hot water & electric
- 1-minute walk to bus stop; 40-minute commute to Manhattan via PATH Train
- 21% rental upside with pro forma rents averaging $2,044/unit
- Boilers and hot water heaters replaced 2 years ago across all apartments
- Prime Bayonne location near Route 440, I-78, NJ Turnpike & Newark Airport
Executive Summary
Broker of Record
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
52 Park Avenue, Suite B5, Park Ridge NJ 07656
(866) 889-0550
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
52 Park Avenue, Suite B5, Park Ridge NJ 07656
(866) 889-0550
Property Facts
| Price | $4,417,504 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $276,094 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 6.91% | Building Size | 11,700 SF |
| No. Units | 16 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | ||
| Zoning | N/Av, Bayonne City | ||
| Price | $4,417,504 CAD |
| Price Per Unit | $276,094 CAD |
| Sale Type | Investment |
| Cap Rate | 6.91% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 11,700 SF |
| No. Stories | 4 |
| Year Built | 1965 |
| Zoning | N/Av, Bayonne City |
Amenities
Unit Amenities
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,872,068 CAD | |
| Land Assessment | $844,295 CAD | Total Assessment | $3,716,363 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$844,295 CAD
Improvements Assessment
$2,872,068 CAD
Total Assessment
$3,716,363 CAD
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548 Avenue C
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