Brick Apartment Building Near Light
For Sale
Contact for pricing
570 56th St, West New York, NJ 07093
Three-story brick apartment building near Light Rail Station.
Property Size4,655 SF
Price / SF$214.61
Days on Market793
Property Features for 570 56th St
General Information
Standard status
Active
Size
4,655 SF
Class
B
Property subtype
Multifamily
Zoning
1-L
Net Operating Income
$53,357
Building Details
Stories
3
Units
6
Listing Agency:
Cervelli Real Estate & Property Management
Listed By:
Chris Cervelli · License #9807944
(201) 868-6300
Source:
Crexi
Added: Aug 5, 2024
Changed: Oct 5
Last Checked: Oct 5 at 6:28PM
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 Cervelli Real Estate & Property Management
Investment Insights
Based on property information with market context.
This three-story apartment building, constructed with solid brick, features box-style apartments with front and back layouts. The property is located approximately 1/2 mile from the Light Rail Station. The property size is 4,655 square feet. The building offers potential for increased rental income.
Key Highlights
- 40% upside in rents
- Solid brick construction
- Located just 1/2 mile from Light Rail Station
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,585
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,431,700
$1.4M
Cap Rate 7%
$1,022,643
$1.0M
Cap Rate 9%
$795,389
$795.4K
Market Conditions
NOI Build-Up for 4,655 SF
Gross rent
$139.7K $30.00/SF
− Vacancy
−$9.5K −$2.04/SF
EGI
$130.2K $27.96/SF
− OpEx
−$58.6K −$12.58/SF
NOI
$71.6K $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 Rate 5%
$1,431,700
Cap Rate 7%
$1,022,643
Cap Rate 9%
$795,389
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$894.8K – $1.19M
NOI $71,585 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.69M
$1.47M – $1.97M
NOI $117,994 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,434
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story brick apartment building near Light Rail Station.
Where is this apartment building located?
The property is located at 570 56th St West New York, NJ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 40% upside in rents; Solid brick construction; Located just 1/2 mile from Light Rail Station
