New Multifamily Property with
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1369-1403 South Ave, Plainfield, NJ 07062
Newly constructed multifamily property with retail space in Plainfield, NJ.
Property Size21,635 SF
Days on Market130
Property Features for 1369-1403 South Ave
General Information
Standard status
Active
Size
21,635 SF
Property subtype
Multifamily
Occupancy
95%
Amenities
Fully Stabilized New Construction with Rent Growth Completed in 2023, Prime South offers stabilized cash flow, modern construction and remaining residential rent growth without development or lease-up
Street-Level Commercial Leased to Medical Tenant Street-level commercial space is fully leased to ALT Spinal Health & Rehab, providing diversified in-place income alongside the residential apartments.
Remaining Residential Rent Growth Current residential rents remain below competing new construction, creating a clear path for future NOI growth through natural lease renewals.
Oversized Luxury Apartments Large 1- and 2-bedroom residences (approximately 830–1,060 SF) feature private balconies, in-unit laundry and contemporary finishes.
Transit-Oriented Investment Approximately one-half mile from Netherwood Station with direct NJ Transit service to Newark and Manhattan plus convenient access to Route 22, I-78 and the Garden State Parkway.
Institutional Quality Asset Modern construction with minimal deferred maintenance and limited near-term capital expenditure requirements.
Established Retail & Employment Corridor Located near Target, Home Depot, Walmart, ShopRite and numerous dining, healthcare and neighborhood service providers supporting long-term renter demand.
Building Details
Building Size
21,635 SF
Units
21
Listing Agency:
Marcus & Millichap - New Jersey
(201) 742-6177
Listed By:
Chez Eider · License #License(s): NJ: 1863116
(201) 742-6177
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 8
Last Checked: Aug 10 at 2:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - New Jersey
Investment Insights
Based on property information with market context.
Prime South Apartments is a newly constructed boutique multifamily property located on South Avenue in Plainfield, New Jersey. Completed in 2023, the property features 20 residential apartment units and one ground-floor retail space. The residential units offer oversized floor plans, modern finishes, private balconies, and in-unit laundry. The property is located approximately 0.5 miles from Netherwood Station, providing direct NJ Transit access to Newark and Manhattan. It also benefits from immediate access to major roadways serving Central and Northern New Jersey. The property is positioned as an opportunity to acquire a modern, well-located asset with durable cash flow and long-term growth potential.
Key Highlights
- Newly constructed in 2023, this multifamily property features 20 residential units and one retail space, offering stabilized income.
- Located just 0.5 miles from Netherwood Station, providing direct NJ Transit access to Newark and Manhattan.
- Below‑market in‑place rents offer value‑add potential.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Explore this area
Business Placement
Demographics for 07062, NJ
14,196
Population
4,960
Households
2.9
Avg Household Size
37
Median Age
31%
College-Educated
82%
High-School Grad
1.9 sq mi
ZIP Area
7,472
Density / Sq Mi
$92,711
Median Household Income
$40,541
Median Earnings
$1,794
Median Rent
$374,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed multifamily property with retail space in Plainfield, NJ.
Where is this apartment building located?
The property is located at 1369-1403 South Ave Plainfield, NJ.
What are key features of this property?
This property features: Newly constructed in 2023, this multifamily property features 20 residential units and one retail space, offering stabilized income.; Located just 0.5 miles from Netherwood Station, providing direct NJ Transit access to Newark and Manhattan.; Below‑market in‑place rents offer value‑add potential.
