28 Camplain Rd Manville, NJ 08835-1450

This exceptional 8-unit apartment building in Manville, New Jersey presents a compelling investment opportunity. Located just one block from Main Street, this property offers a prime location and strong rental potential. Built in 1929 and extensively renovated in 2019, the building comprises a single, two-story structure with eight one-bedroom, one-bathroom units. Each unit features its own gas and electric meters, simplifying utility management. The current Net Operating Income (NOI) is $75,632, yielding a 5.60% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $136,832, resulting in a 10.14% cap rate, reflecting the potential for increased rental income. The asking price is $1,350,000, or $168,750 per unit. Seven of the eight units are on month-to-month leases, offering flexibility for future rent adjustments. The property is zoned residential and is not located in a flood zone, minimizing risk. This well-maintained building represents a rare chance to acquire a high-performing multifamily asset in a desirable New Jersey location with significant upside potential. The property's strong cash flow, combined with its prime location and recent renovations, makes it an ideal addition to any investment portfolio.