344 Kearny Ave Kearny, NJ 07032-2602
- Commercial real estate
- 1,800 SF
- 0.05 lot acres
Current Use by Public Records
- Jersey Shore Tanning Salon LLC / Tanning Salon
Property Details for 344 Kearny Ave
- Year built
- 1920
- Construction
- FRAME
- Lot size
- 0.05 lot acres
- Property size
- 1,800 SF
- Zone code
- C3
- Property type
- Commercial real estate
- APN
- 07 00231-0000-00002
- APU
- 700231000000002
Description
This exceptional investment opportunity presents an 11-unit rooming house located at 344 Kearny Avenue, Kearny, New Jersey, 07032. The property, situated on a 2,374 square foot lot, boasts a desirable C-3 zoning classification. Built in 1920 and extensively renovated in 2017, this two-story building currently enjoys 100% occupancy, generating substantial income. Each of the 11 units is fully furnished with a bed, mattress, nightstand, chest, and dresser, ensuring consistent rental appeal. The property includes security cameras and a sprinkler system, enhancing safety and value. Financial records indicate a gross annual income of $93,480, with annual expenses including taxes ($15,017), insurance (approximately $2,700), and utilities ($7,028). This translates to a compelling 7% cap rate. The landlord covers all utilities and internet for tenants, simplifying management. This well-maintained, legally operating, and state-certified senior living facility offers a rare chance to acquire a high-performing, income-producing asset in a prime location. The 8-foot ceilings throughout contribute to a comfortable living environment. This is a turnkey operation ready for a new owner to step in and continue the success.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kearny
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.1492
- Latitude
- 40.7627
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
