Turn-Key 8-Unit Apartment
6 BURR AVE Westville, NJ 08093
For Sale
Contact for pricing
Well-maintained, turn-key 8-unit building generating current gross annual income of $132,394.
Property Size4,500 SF
Price / SF$221.11
Days on Market58
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 Agency:
RE/MAX ONE Realty-Moorestown
Listed By:
Michael Walton · License #0447867
Source:
Crexi
Added: May 29
Changed: Jul 10
Last Checked: Jul 25 at 10:33AM
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
Investment Insights
Based on property information with market context.
This turn-key 8-unit multifamily property is presented as well maintained and ready to operate. The offering includes an existing income profile, with current gross annual income of $132,394 and an indicated 8% cap rate as stated in the marketing remarks. The property is described as carefully cared for and positioned to support straightforward day-to-day management.
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.
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.
Key Highlights
- Well‑maintained 8‑unit multifamily building built in 1950.
- Current gross annual income of $132,394.
- Reported 8% cap rate.
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 |
4,500 SF · lease $22.56/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$751.4K
$657.5K – $876.6K
NOI $52,598 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,884 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-maintained, turn-key 8-unit building generating current gross annual income of $132,394.
Where is this apartment building located?
The property is located at 6 BURR AVE Westville, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Well‑maintained 8‑unit multifamily building built in 1950.; Current gross annual income of $132,394.; Reported 8% cap rate.
