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227 Clinton St 6 Unit Apartment Building $4,600,000 ($766,667/Unit) 4.54% Cap Rate Hoboken, NJ 07030
Investment Highlights
- Strong Rental Income - $208k NOI
- Great Hoboken Location
- Oversized 133 foot deep lot allows for further expansion of the already large building
Executive Summary
Large building on an oversized 25 X 133 lot. Eight apartments spread across four floors plus an unfinished basement. Four of the apartments are side-by-side, two per floor. Two apartments are double sized wrap-around apartments that each take up an entire floor. The rents are over $20k per month and nearly $250k per year, and the low expenses bring the NOI to $208k. This well maintained building is up to date on all inspections and is an excellent addition to any real estate portfolio.
Property Facts
| Price | $4,600,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $766,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 4.54% | Building Size | 4,744 SF |
| No. Units | 6 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | ||
| Zoning | R-2 - Residential | ||
| Price | $4,600,000 |
| Price Per Unit | $766,667 |
| Sale Type | Investment |
| Cap Rate | 4.54% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 4,744 SF |
| No. Stories | 4 |
| Year Built | 1940 |
| Zoning | R-2 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 3+1 | 2 | - | - |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 05-00043-0000-00015 | Improvements Assessment | $248,000 |
| Land Assessment | $570,000 | Total Assessment | $818,000 |
Property Taxes
Parcel Number
05-00043-0000-00015
Land Assessment
$570,000
Improvements Assessment
$248,000
Total Assessment
$818,000
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