6 BURR AVE, Westville, NJ 08093
Well-maintained, turn-key 8-unit building generating current gross annual income of $132,394.
- Added:
- May 29, 2026
- Days on Market:
- 13
- Last Refresh:
- Jun 6 at 3:08 am
Property Features for 6 BURR AVE
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1950
Listing agent Michael Walton License #0447867
Listing office RE/MAX ONE Realty-Moorestown
Listing date May 29, 2026
Source Crexi
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 RE/MAX ONE Realty-Moorestown
HighLights
- Well‑maintained 8‑unit multifamily building built in 1950.
- Current gross annual income of $132,394.
- Reported 8% cap rate.
- Stable occupancy and existing income.
- Turn‑key investment described as plug‑and‑play.
- Value‑add opportunities noted, including future rent increases and utility bill‑backs such as water reimbursement.
Overview
The building is located in Westville and is marketed as convenient to major highways, shopping, dining, and public transportation. The asset is also described as having stable occupancy.
For investors seeking a plug-and-play multifamily acquisition, this property is structured around an in-place income stream and turnkey operation. The materials also point to potential for value-add through future rent increases and operational efficiencies, including the opportunity to implement utility bill-backs such as water reimbursement to further enhance overall performance. Overall, it is offered as an opportunity to acquire a functioning 8-unit apartment building with both current income and room for operational improvements.
Local 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 | $101.5k | $22.56 |
| − Vacancy | −$5.9k | −$1.31 |
| EGI | $95.6k | $21.25 |
| − OpEx | −$43.0k | −$9.56 |
| NOI | $52.6k | $11.69 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Westville
- County
- Gloucester
- State
- New Jersey
- Longitude
- -75.1215525
- Latitude
- 39.8617099
