Renovated Three-Unit Residential
For Sale
$1,150,000
633 Lafayette Ave, Hawthorne, NJ 07506
Three apartments offer updated kitchens and baths, individual electrical meters, in-unit laundry, and two parking spaces.
Property Size3,344 SF
Price / SF$343.90
Days on Market21
Property Features for 633 Lafayette Ave
General Information
Standard status
Active
Size
3,344 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
energy-efficient windows
upgraded insulation
tiled entrances
ironwood hallway flooring
recessed lighting
decorative wainscoting
craftsman-style interior doors
alternate rear entrance/exit
exterior security cameras
Cambridge paving stone front yard and rear courtyard
front porch
2nd-story balcony
baseboard heat
mini-split A/C
tankless hot water heater
ceiling fans
shaker cabinetry
stainless steel appliances
dishwasher
porcelain shower
quartz vanity
large medicine cabinet
washer/dryer
Building Details
Year Built
1913
Year Renovated
2026
Buildings
1
Stories
3
Listing Agency:
KELLER WILLIAMS VILLAGE SQUARE
(201) 445-4300
Listed By:
SUZANNE COOPER · License #288850
Source:
Luminancerealty
Added: Aug 9
Changed: Aug 28
Last Checked: Aug 28 at 10:28AM
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 KELLER WILLIAMS VILLAGE SQUARE
Investment Insights
Based on property information with market context.
This three-story triplex contains one apartment on each floor and underwent renovation during 2025-2026. Improvements include energy-efficient windows, added insulation, tiled entrances, recessed lighting in shared areas, decorative wainscoting, craftsman-style doors, and an alternate rear entrance and exit. Each residence has a separate electrical meter, baseboard heat, mini-split A/C, a tankless water heater, ceiling fans, and its own washer and dryer area.
The kitchens are fitted with shaker cabinetry, stainless steel appliances, and dishwashers. Bathrooms feature porcelain showers, quartz vanities, and large medicine cabinets. Exterior features include a Cambridge paving stone front yard, rear courtyard, front porch, second-story balcony, two parking spaces, and security cameras. The property was originally built in 1913 and is located at 633 Lafayette Ave in Hawthorne Boro, New Jersey.
The kitchens are fitted with shaker cabinetry, stainless steel appliances, and dishwashers. Bathrooms feature porcelain showers, quartz vanities, and large medicine cabinets. Exterior features include a Cambridge paving stone front yard, rear courtyard, front porch, second-story balcony, two parking spaces, and security cameras. The property was originally built in 1913 and is located at 633 Lafayette Ave in Hawthorne Boro, New Jersey.
Key Highlights
- Three‑story triplex with one apartment per floor
- Renovated during 2025‑2026 with new energy‑efficient windows and upgraded insulation
- Each unit has its own electrical meter, washer/dryer area, baseboard heat, and mini‑split A/C
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,966
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,119,320
$1.1M
Cap Rate 7%
$799,514
$799.5K
Cap Rate 9%
$621,844
$621.8K
Market Conditions
NOI Build-Up for 3,344 SF
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.
Gross rent
$85.5K $25.56/SF
− Vacancy
−$5.5K −$1.65/SF
EGI
$80.0K $23.91/SF
− OpEx
−$24.0K −$7.17/SF
NOI
$56.0K $16.74/SF
Area
Passaic County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,119,320
Cap Rate 7%
$799,514
Cap Rate 9%
$621,844
Alternative Uses
Best Use
Multifamily LT 5
$799.5K
$699.6K – $932.8K
NOI $55,966 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$734.6K
$642.8K – $857.1K
NOI $51,424 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$873.2K
$764.0K – $1.02M
NOI $61,123 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
839
Businesses Nearby
Explore this area
Business Placement
Demographics for 07506, NJ
19,637
Population
8,033
Households
2.4
Avg Household Size
42
Median Age
45%
College-Educated
95%
High-School Grad
3.3 sq mi
ZIP Area
5,951
Density / Sq Mi
$118,093
Median Household Income
$62,495
Median Earnings
$1,828
Median Rent
$499,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments offer updated kitchens and baths, individual electrical meters, in-unit laundry, and two parking spaces.
Where is this triplex located?
The property is located at 633 Lafayette Ave Hawthorne, NJ.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three‑story triplex with one apartment per floor; Renovated during 2025‑2026 with new energy‑efficient windows and upgraded insulation; Each unit has its own electrical meter, washer/dryer area, baseboard heat, and mini‑split A/C
