5843 John F. Kennedy Blvd North Bergen, NJ 07047
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Value-add apartment building, high ROI potential.
Property size:
8,000 SFProperty Features for 5843 John F. Kennedy Blvd
General Information
- Property type
- Multifamily properties
- Square Feet
- 8,000 SF
- Class
- C
Building Details
- Year Built
- 1921
- Buildings
- 2
- Stories
- 2
- Units
- 4
Listing Agent: Orkeem Davis
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This North Bergen, NJ multifamily property presents a compelling investment opportunity. Located at 5843 John F. Kennedy Blvd, this property consists of two, two-story buildings on a 1,800 sq ft lot, totaling 8,000 sq ft with 6,200 sq ft of net rentable space. Currently featuring four units (11 bedrooms, 5 baths), the property boasts a 95% occupancy rate, generating a current NOI of $108,680 and a 6.21% cap rate. A pro-forma NOI of $130,310 and a 7.45% cap rate are projected, reflecting significant value-add potential. Three of the four units have been renovated. The property includes eight parking spaces and is zoned residential. The asking price is $1,750,000, translating to $218.75 per square foot and $437,500 per unit. Built in 1921, this property offers a strong foundation for future growth and income generation. The current rent roll is $11,758, projected to increase to approximately $13,500 by April 2024. This "as is" sale presents a chance to acquire a cash-flowing asset with substantial upside. The property is privately owned.
Property Profile
Location Intelligence
Current Use by Public Records
Commercial real estate
Map
- City
- North Bergen
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0226334
- Latitude
- 40.7911305
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Value-add apartment building, high ROI potential.
Where is this multifamily property located?
The property is located at 5843 John F. Kennedy Blvd North Bergen, NJ.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: $1,750,000 asking price for this value-add multifamily investment opportunity in North Bergen, NJ.; This Class C apartment building features 4 units, totaling 6,200 net rentable square feet, on a 1,800 sq ft lot.; Currently boasting a 6.21% cap rate and 95% occupancy, with a projected 7.45% pro-forma cap rate and $130,310 pro-forma NOI.