Four-Unit Apartment
For Sale
$399,000
531 N 5th St Unit 529, Millville, NJ 08332
Four two-bedroom apartments offer a uniform residential rental configuration in Millville.
Property Size2,881 SF
Price / SF$138.49
Days on Market49
Property Features for 531 N 5th St Unit 529
General Information
Standard status
Active
Size
2,881 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$1,200
Building Details
Year Built
1927
Listing Agency:
Real Broker, LLC- Fairfield
Listed By:
John Natale · License #790719
(855) 450-0442
Source:
Soldbypattie
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 7 at 1:36PM
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 Real Broker, LLC- Fairfield
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Investment Insights
Based on property information with market context.
Built in 1927, this Millville residential income property contains four apartments, each configured with two bedrooms and one bathroom. The building provides 2,881 square feet across its four-unit layout.
Located at 531 N 5th St Unit 529, the property is positioned in Millville, New Jersey. The apartments are currently rented, providing an established occupancy profile for a buyer evaluating a multifamily asset.
Located at 531 N 5th St Unit 529, the property is positioned in Millville, New Jersey. The apartments are currently rented, providing an established occupancy profile for a buyer evaluating a multifamily asset.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 2,881 square feet of total property size
- Built in 1927
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,491
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,820
$689.8K
Cap Rate 7%
$492,729
$492.7K
Cap Rate 9%
$383,233
$383.2K
Market Conditions
NOI Build-Up for 2,881 SF
Gross rent
$67.1K $23.28/SF
− Vacancy
−$4.4K −$1.51/SF
EGI
$62.7K $21.77/SF
− OpEx
−$28.2K −$9.80/SF
NOI
$34.5K $11.97/SF
Area
Cumberland County, NJ
Vacancy
6.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,820
Cap Rate 7%
$492,729
Cap Rate 9%
$383,233
Alternative Uses
Best Use
Multifamily LT 5
$535.2K
$468.3K – $624.5K
NOI $37,467 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$492.7K
$431.1K – $574.9K
NOI $34,491 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$4.33M
$3.79M – $5.05M
NOI $302,809 @ 7.0% cap · market cap 75.89%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
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Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments offer a uniform residential rental configuration in Millville.
Where is this quadplex located?
The property is located at 531 N 5th St Unit 529 Millville, NJ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 2,881 square feet of total property size; Built in 1927
