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The Franklin Westfield 516 North Ave E 40 Unité Immeuble d’appartements 44 317 120 $ CAD (1 107 928 $ CAD/Unité) 5,37% Taux de capitalisation Westfield, NJ 07090
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FAITS SAILLANTS DE L'INVESTISSEMENT
- Newly built in 2024 with top-tier construction quality
- Located near two train stations and major highways
- Resort-style amenities including spa, theater, simulator
- Strong submarket fundamentals with low vacancy and rising rents
RÉSUMÉ DE L'ANNONCE
The Franklin at Westfield is a newly constructed, luxury multifamily asset located at 516 North Avenue East in the heart of Westfield, NJ. Delivered in 2024, this 40-unit property blends high-end finishes with resort-style amenities in one of Union County’s most desirable suburban markets. The unit mix includes 34 market-rate apartments and 6 affordable units, offering a balanced income stream and community integration.
Residents enjoy access to a comprehensive amenity package including a pool, spa, outdoor kitchen, infrared and dry saunas, putting green, movie theater, and a golf/multisport simulator. Interiors feature quartz waterfall islands, GE stainless steel appliances, custom closets, double vanities, and oversized showers with bench seating. Each unit includes in-unit laundry and spacious layouts averaging over 1,700 SF for market-rate units.
Strategically positioned just 0.6 miles from both the Westfield and Garwood train stations, and within 10 minutes of the Garden State Parkway, Route 22, and I-78, the property offers exceptional commuter access. Westfield’s vibrant downtown and top-tier school system further enhance its appeal to high-income renters.
With a submarket vacancy rate of just 5.5% and a 4-year rent growth of 18%, The Franklin is poised for strong long-term performance. The property is offered free and clear of debt, presenting a rare opportunity to acquire a trophy-quality asset in a supply-constrained market.
Residents enjoy access to a comprehensive amenity package including a pool, spa, outdoor kitchen, infrared and dry saunas, putting green, movie theater, and a golf/multisport simulator. Interiors feature quartz waterfall islands, GE stainless steel appliances, custom closets, double vanities, and oversized showers with bench seating. Each unit includes in-unit laundry and spacious layouts averaging over 1,700 SF for market-rate units.
Strategically positioned just 0.6 miles from both the Westfield and Garwood train stations, and within 10 minutes of the Garden State Parkway, Route 22, and I-78, the property offers exceptional commuter access. Westfield’s vibrant downtown and top-tier school system further enhance its appeal to high-income renters.
With a submarket vacancy rate of just 5.5% and a 4-year rent growth of 18%, The Franklin is poised for strong long-term performance. The property is offered free and clear of debt, presenting a rare opportunity to acquire a trophy-quality asset in a supply-constrained market.
FAITS SUR LA PROPRIÉTÉ
| Prix | 44 317 120 $ CAD | Style d’appartement | De faible hauteur |
| Prix par unité | 1 107 928 $ CAD | Classe d’immeuble | A |
| Type de vente | Investissement | Taille du lot | 1,63 AC |
| Taux de capitalisation | 5,37% | Taille du bâtiment | 50 000 pi² |
| Nombre d’unités | 40 | Nombre d’étages | 3 |
| Type de propriété | Immeuble residentiel | Année de construction | 2024 |
| Sous-type de propriété | Appartement |
| Prix | 44 317 120 $ CAD |
| Prix par unité | 1 107 928 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 5,37% |
| Nombre d’unités | 40 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | A |
| Taille du lot | 1,63 AC |
| Taille du bâtiment | 50 000 pi² |
| Nombre d’étages | 3 |
| Année de construction | 2024 |
COMMODITÉS
COMMODITÉS DES UNITÉS
- Climatisation
- Lave-vaisselle
- Micro-ondes
- Chauffage
- Ventilateurs de plafond
- Cuisine
- Planchers de bois franc
- Réfrigérateur
- Four
- Électroménagers en acier inoxydable
- Bain/Douche
- Congélateur
COMMODITÉS DU SITE
- Accès 24 heures
- Accès contrôlé
- Clubhouse
- Centre de conditionnement physique
- Piscine
- Sauna
- Grill
- Centre multimédia/Cinéma
- Espace de jeu pour animaux de compagnie
- Espace d'entreposage
- Entreposage de vélo
- Salles de conférence
- Ascenseur
- Lounge
- Salle multi-usages
- Station de lavage d'animaux de compagnie
UNITÉ RENSEIGNEMENTS SUR LE MÉLANGE
| DESCRIPTION | NOMBRE D’UNITÉS | LOYER MOYEN/MOIS | pi² |
|---|---|---|---|
| 1+1 | 7 | - | 753 - 1 144 |
| 1+1.5 | 4 | - | 999 - 1 118 |
| 2+1 | 1 | - | 1 043 |
| 2+2 | 7 | - | 1 260 - 1 424 |
| 2+3 | 15 | - | 1 596 - 2 367 |
| 3+3 | 6 | - | 2 328 - 2 658 |
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Daniel Bottiglieri -
Andre Balthazard -
Andrew Schwartz -
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The Franklin Westfield | 516 North Ave E
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