Fully Leased Multi Unit Building

73 Partridge Road, Matawan, NJ 07747

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For Sale

$1,999,000

Multi-unit building with stable tenants and room for rent increases.

Type:Commercial/Industrial

Property size:

5,017 SF

Lot size:

1.14 Acres

Price / SF:

$398/SF

HighLights

6.8% Cap Rate: High return on investment.
Fully Leased: Immediate income stream with 10 units.
Stable Tenants: Reliable rental income.
Rent Increase Potential: Opportunity to increase revenue.
No Rent Control: Freedom to adjust rents.
Large 1.14 Acre Lot: Features a private driveway and naturalistic grounds.

We can help!

Listing Contact

Susan Grace McGowan

For Sale

$1,999,000

Multi-unit building with stable tenants and room for rent increases.

Type:Commercial/Industrial

Property size:

5,017 SF

Lot size:

1.14 Acres

Price / SF:

$398/SF

Added:: Sep 13, 2024
Days on Market:: 646
Last Refresh:: May 19 at 9:56 pm

Property Features for 73 Partridge Road

General Information

Standard status: Active
Size: 5,017 SF
Lot size: 1.14 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1945

We can help!

Listing Contact

Susan Grace McGowan

Listing agent Susan Grace McGowan License #0125875

Listing office Hometown Residential Realty LLC

Listing date Sep 13, 2024

Source Exitrealty

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All listing content including descriptions, pricing, images are the copyrighted material of Hometown Residential Realty LLC

HighLights

6.8% Cap Rate: High return on investment.
Fully Leased: Immediate income stream with 10 units.
Stable Tenants: Reliable rental income.
Rent Increase Potential: Opportunity to increase revenue.
No Rent Control: Freedom to adjust rents.
Large 1.14 Acre Lot: Features a private driveway and naturalistic grounds.

Overview

This fully leased multi-unit building offers 5,016 square feet and features ten units with a mix of one and two-bedroom layouts. The units have been updated and include full kitchens. Situated on 1.14 acres of land, the property provides a private driveway and naturalistic grounds that are appreciated by the tenants. The property is zoned R-40 and is grandfathered. The tenants are stable and pay their rent on time or early, and none of them receive rental assistance. There is potential for rent increases. The units were updated within the past 10 years.

Property Profile Location Intelligence

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Local Demand

City: Matawan
County: Monmouth
State: New Jersey
Longitude: -74.2791
Latitude: 40.4116

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For sale
Apartment buildings
NJ
Matawan
07747
73 Partridge Road

What type of property is this?

Apartment building - Multi-unit building with stable tenants and room for rent increases.

Where is this apartment building located?

The property is located at 73 Partridge Road Matawan, NJ.

What is the asking price?

The asking price for this property is $1,999,000.

What are key features of this property?

This property features: 6.8% Cap Rate: High return on investment.; Fully Leased: Immediate income stream with 10 units.; Stable Tenants: Reliable rental income.