Cash Flowing Multifamily Investment
For Sale
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521 60th St, West New York, NJ 07093
Fully occupied 8-unit multifamily near Bergenline Ave, West New York.
Property Size5,096 SF
Price / SF$313.97
Days on Market192
Property Features for 521 60th St
General Information
Standard status
Active
Size
5,096 SF
Class
C
Property subtype
Multifamily
Zoning
C-R
Building Details
Year Built
1910
Listing Agency:
SERHANT
(917) 334-9663
Listed By:
Alexander Calle · License #NJ 1752924
Source:
Crexi
Added: Feb 10
Changed: Aug 8
Last Checked: Aug 8 at 2:55PM
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 SERHANT
Investment Insights
Based on property information with market context.
This is an 8-unit multifamily property that is fully occupied and cash flowing. The unit mix consists of four 1-bedroom/1-bathroom units and four 2-bedroom/1-bathroom units. Current rents are at 65% of market value, presenting an opportunity for future upside through annual CPI increases up to 5% and capital improvements upon vacancies. This property is suited for a long-term buy/hold strategy, with potential to increase apartment rents over time through improvements. The property is located one block from Bergenline Avenue, providing access to NJ Transit Bus and Light Rail station. It is also situated 2 miles from the Lincoln Tunnel to Manhattan. The property size is 5096 square feet.
Key Highlights
- Fully occupied, cash flowing 8‑unit multifamily property.
- Upside potential through annual CPI rent increases (up to 5%) and capital improvements.
- Below market rents (65% of market) provide opportunity to increase revenue.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,366
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,567,320
$1.6M
Cap Rate 7%
$1,119,514
$1.1M
Cap Rate 9%
$870,733
$870.7K
Market Conditions
NOI Build-Up for 5,096 SF
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.
Gross rent
$152.9K $30.00/SF
− Vacancy
−$10.4K −$2.04/SF
EGI
$142.5K $27.96/SF
− OpEx
−$64.1K −$12.58/SF
NOI
$78.4K $15.38/SF
Area
Hudson 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,567,320
Cap Rate 7%
$1,119,514
Cap Rate 9%
$870,733
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$979.6K – $1.31M
NOI $78,366 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.85M
$1.61M – $2.15M
NOI $129,172 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 07093, NJ
64,929
Population
27,451
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
78%
High-School Grad
1.2 sq mi
ZIP Area
54,108
Density / Sq Mi
$70,389
Median Household Income
$37,229
Median Earnings
$1,619
Median Rent
$390,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 8-unit multifamily near Bergenline Ave, West New York.
Where is this apartment building located?
The property is located at 521 60th St West New York, NJ.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Fully occupied, cash flowing 8‑unit multifamily property.; Upside potential through annual CPI rent increases (up to 5%) and capital improvements.; Below market rents (65% of market) provide opportunity to increase revenue.
