5843 John F. Kennedy Blvd North Bergen, NJ 07047
- Apartment buildings
- 8,000 SF
Current Use by Public Records
- Apartment buildings
Property Details for 5843 John F. Kennedy Blvd
- Year built
- 1921
- Property size
- 8,000 SF
- Property type
- Apartment buildings
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Bergen
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0226
- Latitude
- 40.7911
