6-Unit Apartment
230 River Drive, Garfield, NJ 07026
For Sale
New
$1,299,000
Residents have access to basement storage, coin-operated laundry, tandem parking, and a shared backyard.
Property Size4,536 SF
Lot Size0.07 Acres
Price / SF$286.38
Days on Market5
Property Features for 230 River Drive
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
individual storage areas
coin operated laundry
shared back yard
River Walk
Building Details
Buildings
Stories
Tenancy
Listing Agency:
Blueline Realty Group LLC
Listed By:
Tiffany Leape · License #395806
(201) 697-6886
Source:
Drostrealtygroup
Added: Nov 2
Changed: Nov 5
Last Checked: Nov 6 at 3:38PM
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 Blueline Realty Group LLC
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Investment Insights
Based on property information with market context.
This three-story apartment property contains six one-bedroom, one-bath units across 4,536 square feet, with a basement. Unit interiors feature hardwood floors, updated kitchens and appliances, and new windows; common hallways have newer luxury vinyl flooring and fresh paint. Basement storage is divided into individual areas for each apartment, alongside coin-operated laundry. The property also includes tandem driveway parking for three cars, rented separately, and a shared backyard for tenants.
At 230 River Drive in Garfield, the building fronts the redesigned River Walk walking path. Route 46 and Route 80, shops, restaurants, and public transportation are nearby. The lot measures 0.071 acres, and all six apartments are leased with long-term tenants in place.
At 230 River Drive in Garfield, the building fronts the redesigned River Walk walking path. Route 46 and Route 80, shops, restaurants, and public transportation are nearby. The lot measures 0.071 acres, and all six apartments are leased with long-term tenants in place.
Key Highlights
- Six apartments, each with one bedroom and one bathroom, in a 4,536‑SF, three‑story building
- 0.071‑acre lot with basement storage areas assigned to each unit
- New windows, hardwood floors, and updated kitchens and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,755
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,395,100
$1.4M
Cap Rate 7%
$996,500
$996.5K
Cap Rate 9%
$775,056
$775.1K
Market Conditions
NOI Build-Up for 4,536 SF
Gross rent
$136.1K $30.00/SF
− Vacancy
−$9.3K −$2.04/SF
EGI
$126.8K $27.96/SF
− OpEx
−$57.1K −$12.58/SF
NOI
$69.8K $15.38/SF
Area
Bergen County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,395,100
Cap Rate 7%
$996,500
Cap Rate 9%
$775,056
Alternative Uses
Best Use
Apartment 5plus
$996.5K
$871.9K – $1.16M
NOI $69,755 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,911 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,996
Businesses Nearby
Explore this area
Business Placement
Demographics for 07026, NJ
32,655
Population
12,234
Households
2.7
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
15,550
Density / Sq Mi
$75,701
Median Household Income
$44,462
Median Earnings
$1,612
Median Rent
$454,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Apartment buildings in Bergen County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have access to basement storage, coin-operated laundry, tandem parking, and a shared backyard.
Where is this apartment building located?
The property is located at 230 River Drive Garfield, NJ.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Six apartments, each with one bedroom and one bathroom, in a 4,536‑SF, three‑story building; 0.071‑acre lot with basement storage areas assigned to each unit; New windows, hardwood floors, and updated kitchens and appliances
