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200 Madison Ave 6 Unit Apartment Building $985,000 ($164,167/Unit) 7.12% Cap Rate Perth Amboy, NJ 08861
Executive Summary
PROPERTY DESCRIPTION
- The property is a value-add, corner, 6-unit apartment building with parking
- Apartments consist of three 1B/1BA and three 2B/1BA units
- 18% upside in apartment rents
- 2,500sf lot is zoned for single and 2-family redevelopment
LOCATION HIGHTLIGHTS
- Access to NJ Turnpike, Parkway, I-95, Staten Island, Rt. 440 & 35, NJ Transit Rail
- $200m was recently invested in the approved Sea Gate project that will bring 602 new housing units to the waterfront
- The combination of waterfront redevelopment, regional connectivity, and ongoing economic revitalization makes for an emerging investment market
- The property is a value-add, corner, 6-unit apartment building with parking
- Apartments consist of three 1B/1BA and three 2B/1BA units
- 18% upside in apartment rents
- 2,500sf lot is zoned for single and 2-family redevelopment
LOCATION HIGHTLIGHTS
- Access to NJ Turnpike, Parkway, I-95, Staten Island, Rt. 440 & 35, NJ Transit Rail
- $200m was recently invested in the approved Sea Gate project that will bring 602 new housing units to the waterfront
- The combination of waterfront redevelopment, regional connectivity, and ongoing economic revitalization makes for an emerging investment market
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$110,040
|
$46.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,502
|
$2.32
|
| Effective Gross Income |
$104,538
|
$44.11
|
| Taxes |
$14,773
|
$6.23
|
| Operating Expenses |
$19,627
|
$8.28
|
| Total Expenses |
$34,400
|
$14.51
|
| Net Operating Income |
$70,138
|
$29.59
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $110,040 |
| Annual Per SF | $46.43 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,502 |
| Annual Per SF | $2.32 |
| Effective Gross Income | |
|---|---|
| Annual | $104,538 |
| Annual Per SF | $44.11 |
| Taxes | |
|---|---|
| Annual | $14,773 |
| Annual Per SF | $6.23 |
| Operating Expenses | |
|---|---|
| Annual | $19,627 |
| Annual Per SF | $8.28 |
| Total Expenses | |
|---|---|
| Annual | $34,400 |
| Annual Per SF | $14.51 |
| Net Operating Income | |
|---|---|
| Annual | $70,138 |
| Annual Per SF | $29.59 |
Property Facts
| Price | $985,000 | Building Class | C |
| Price Per Unit | $164,167 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 3,220 SF |
| Cap Rate | 7.12% | Average Occupancy | 83% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 0.93/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-25 - - R-25 - 2,500sf lot is zoned for single and 2-family redevelopment | ||
| Price | $985,000 |
| Price Per Unit | $164,167 |
| Sale Type | Investment |
| Cap Rate | 7.12% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 3,220 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 0.93/1,000 SF |
| Zoning | R-25 - - R-25 - 2,500sf lot is zoned for single and 2-family redevelopment |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 1+1 | 3 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 16-00033-0000-00027 | Total Assessment | $479,600 |
| Land Assessment | $86,400 | Annual Taxes | $14,773 ($4.59/SF) |
| Improvements Assessment | $393,200 | Tax Year | 2025 |
Property Taxes
Parcel Number
16-00033-0000-00027
Land Assessment
$86,400
Improvements Assessment
$393,200
Total Assessment
$479,600
Annual Taxes
$14,773 ($4.59/SF)
Tax Year
2025
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Serhant New Jersey LLC
200 Madison Ave
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