Multifamily Income Property with
1672-1676 North Olden Avenue & 1571 6th Street Ewing, NJ 08638
New
For Sale
$16,000,000
Three-building portfolio totals 57,500 SF with 20 residential units and three commercial daycare tenants.
Property Size57,500 SF
Price / SF$278.26
Days on Market2
Property Features for 1672-1676 North Olden Avenue & 1571 6th Street
General Information
- Standard status
- Active
- Size
- 57,500 SF
- Property subtype
- Multifamily
Listing Agency:
(908) 675-5703
Listed By:
Thomas Scatuorchio
Source:
Kislakrealty
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 24 at 5:12AM
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 Thomas Scatuorchio
Investment Insights
Based on property information with market context.
The property is a three-building multifamily portfolio totaling 57,500 SF, featuring 20 residential apartments and three commercial tenants operating daycare and related services. The commercial component includes adult medical daycare as well as child preschool and child daycare.
Two of the three commercial leases are structured on an NNN basis, which is intended to minimize landlord operating burden and expense exposure. The remaining commercial tenant is described as Senior Star, with rent characterized in the remarks as government-guaranteed through Medicaid and MLTSS, along with the NJ State Respite Program.
Residential and building amenities include parking for 172 cars, laundry facilities, an elevator, security systems, and a whole-building sprinkler system. The remarks also indicate modern vintage construction from 2012/2016 and no rent control on the residential units.
Two of the three commercial leases are structured on an NNN basis, which is intended to minimize landlord operating burden and expense exposure. The remaining commercial tenant is described as Senior Star, with rent characterized in the remarks as government-guaranteed through Medicaid and MLTSS, along with the NJ State Respite Program.
Residential and building amenities include parking for 172 cars, laundry facilities, an elevator, security systems, and a whole-building sprinkler system. The remarks also indicate modern vintage construction from 2012/2016 and no rent control on the residential units.
Key Highlights
- Three‑building portfolio totaling 57,500 SF with 20 residential apartments and 3 commercial daycare tenants
- Adult medical daycare and child preschool/child daycare commercial tenants provide diversified income across multiple businesses
- Two of three commercial leases are structured NNN, minimizing landlord operating expense exposure
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.73M | $30.00 |
| − Vacancy | −$129.4k | −$2.25 |
| EGI | $1.60M | $27.75 |
| − OpEx | −$718.0k | −$12.49 |
| NOI | $877.6k | $15.26 |
57,500 SF · lease $30.00/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$12.54M
$10.97M – $14.63M
NOI $877,594 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$18.50M
$16.19M – $21.58M
NOI $1,294,992 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Day care centers
FAQs
What type of property is this?
Apartment building - Three-building portfolio totals 57,500 SF with 20 residential units and three commercial daycare tenants.
Where is this apartment building located?
The property is located at 1672-1676 North Olden Avenue & 1571 6th Street Ewing, NJ.
What is the asking price?
The asking price for this property is $16,000,000.
What are key features of this property?
This property features: Three‑building portfolio totaling 57,500 SF with 20 residential apartments and 3 commercial daycare tenants; Adult medical daycare and child preschool/child daycare commercial tenants provide diversified income across multiple businesses; Two of three commercial leases are structured NNN, minimizing landlord operating expense exposure
