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Garrett Apartments 130 Grand Ave 35 Unit Apartment Building For Sale Englewood, NJ 07631
Investment Highlights
- Value-add opportunity through continued renovation of units upon turnover
- On-site laundry
- Tenant-paid electric, reducing ownership utility exposure
- Varied unit mix
- Recent capital improvements include $70K elevator replacement and renovated hallways
- Strong Bergen County demographics with average household income of $156K within one mile and $170K within three miles
Executive Summary
Garrett Apartments is a 35-unit multifamily property in Englewood, NJ, featuring 5 studios, 21 one-bedroom and 9 two-bedroom units. The property benefits from ongoing unit renovations and recent capital improvements, including a $70,000 elevator replacement and renovated hallways. Generating approximately $587,000 in NOI, the property offers strong in-place cash flow with additional rental upside as units turn.
Property Facts
| Sale Type | Investment | Lot Size | 0.18 AC |
| No. Units | 35 | Building Size | 25,120 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2000 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RM-A | ||
| Sale Type | Investment |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 25,120 SF |
| No. Stories | 4 |
| Year Built | 2000 |
| Opportunity Zone |
Yes |
| Zoning | RM-A |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Range
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Smoke Free
- Conference Rooms
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 400 |
| 1+1 | 31 | - | 800 - 1,000 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 15-02408-0000-00021 | Improvements Assessment | $1,250,000 |
| Land Assessment | $1,750,000 | Total Assessment | $3,000,000 |
Property Taxes
Parcel Number
15-02408-0000-00021
Land Assessment
$1,750,000
Improvements Assessment
$1,250,000
Total Assessment
$3,000,000
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Map
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Contact the Sale Advisor
Garrett Apartments | 130 Grand Ave