Value-Add Multifamily Apartment
6110 Park Ave West New York, NJ 07093
For Sale
Contact for pricing
Multifamily building with 18 of 21 units classified as free market.
Property Size15,750 SF
Price / SF$275.87
Days on Market171
Property Features for 6110 Park Ave
General Information
- Standard status
- Active
- Size
- 15,750 SF
- Property subtype
- Multifamily
Listing Agency:
Matthews
Listed By:
David Ferber · License #1974915
Source:
Crexi
Added: Feb 3
Changed: Jul 23
Last Checked: Jul 23 at 9:57AM
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 Matthews
Investment Insights
Based on property information with market context.
This multifamily apartment building presents a value-add opportunity, offering a total unit count of 21 with 18 units identified as free market. The property is positioned as a residential income asset appropriate for buyers evaluating upside through operational or tenanting improvements.
The building is located at 6110 Park Ave in West New York, New Jersey 07093.
With a reported property size of 15,750 and a transaction marked for sale, this is a focused option for investors seeking a small-scale multifamily profile with a clear split between free market and non–free market units.
The building is located at 6110 Park Ave in West New York, New Jersey 07093.
With a reported property size of 15,750 and a transaction marked for sale, this is a focused option for investors seeking a small-scale multifamily profile with a clear split between free market and non–free market units.
Key Highlights
- Multifamily building with 21 total units
- 18 of 21 units classified as free market
- $206,905 per unit
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 | $472.5k | $30.00 |
| − Vacancy | −$32.1k | −$2.04 |
| EGI | $440.4k | $27.96 |
| − OpEx | −$198.2k | −$12.58 |
| NOI | $242.2k | $15.38 |
15,750 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.46M
$3.03M – $4.04M
NOI $242,204 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.70M
$4.99M – $6.65M
NOI $399,226 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Multifamily building with 18 of 21 units classified as free market.
Where is this apartment building located?
The property is located at 6110 Park Ave West New York, NJ.
What is the asking price?
The asking price for this property is $4,345,000.
What are key features of this property?
This property features: Multifamily building with 21 total units; 18 of 21 units classified as free market; $206,905 per unit
