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122 Elmwood Ave 8 Unit Apartment Building $1,300,000 ($162,500/Unit) Irvington, NJ 07111
EXECUTIVE SUMMARY
An Eight-Unit Brick Garden-Style Apartment Building with Strong Rental Demand
Six of Eight Units Recently Renovated, with 100 Percent Upside in Two Remaining Units
Additional Income Potential from Seven Parking Spaces & Outdoor Storage
Large Basement With Opportunity to Build Additional Storage Units
Vacancy Decontrol Allows Units to Be Rented at Market Rate Upon Turnover
Located One Block From Springfield Avenue at Sanford Avenue Bus Station
Proximity to New York City, Providing Strong Tenant Demand & Long-Term Appreciation
Six of Eight Units Recently Renovated, with 100 Percent Upside in Two Remaining Units
Additional Income Potential from Seven Parking Spaces & Outdoor Storage
Large Basement With Opportunity to Build Additional Storage Units
Vacancy Decontrol Allows Units to Be Rented at Market Rate Upon Turnover
Located One Block From Springfield Avenue at Sanford Avenue Bus Station
Proximity to New York City, Providing Strong Tenant Demand & Long-Term Appreciation
PROPERTY FACTS
| Price | $1,300,000 | Building Class | C |
| Price Per Unit | $162,500 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 5,760 SF |
| Sale Condition | REO Sale | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.13/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | N/Av | ||
| Price | $1,300,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Sale Condition | REO Sale |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 5,760 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.13/1,000 SF |
| Zoning | N/Av |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 1
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 09-00376-0000-00015 | Improvements Assessment | $950,700 |
| Land Assessment | $280,000 | Total Assessment | $1,230,700 |
PROPERTY TAXES
Parcel Number
09-00376-0000-00015
Land Assessment
$280,000
Improvements Assessment
$950,700
Total Assessment
$1,230,700
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122 Elmwood Ave
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