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282 Belleville Ave
Belleville, NJ 07109
282 Belleville Avenue · Multifamily Property For Sale
·
9 Units
INVESTMENT HIGHLIGHTS
- Convenient Location
- Upside Potential
- Strong Demographics
- Transit Oriented Location
- Desirable Residential Units
EXECUTIVE SUMMARY
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase 282 Belleville Avenue in Belleville, New Jersey (“the Property”). The Property consists of a two-story building containing nine (9) residential units comprised of three (3), 2-Bedroom/1-Bathroom units and six (6), 1-Bedroom/1-Bathroom units with 7,224 square feet of living area on a 0.13 acre parcel. The Property also includes an on-site laundry facility, and one of the units also has a designated parking space. The Property is strategically located at the intersection of Belleville Avenue (NJ Route 506) and Cedar Hill Avenue in a densely populated residential neighborhood. The Property enjoys close proximity to Washington Avenue and Franklin Avenue, two of the area’s primary commercial corridors. 282 Belleville Avenue is 1.7 miles from the Branch Brook Park Newark Light Rail Station and 2.5 miles from the Bloomfield Train Station with direct service to Manhattan’s Penn Station. The Property also offers convenient access to the Garden State Parkway, NJ Route 21, and Interstate 280 as well as area schools, national retailers, and the Clara Maass Medical Center.Belleville is a residential suburb of New York City, located in Essex County. The community is 16-miles west of New York City.
PROPERTY FACTS
| Price Per Unit | $180,556 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 7,224 SF |
| Cap Rate | 6.76% | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1897 |
| Property Subtype | Apartment | Parking Ratio | 0.14/1,000 SF |
| Building Class | C |
| Price Per Unit | $180,556 |
| Sale Type | Investment |
| Cap Rate | 6.76% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 7,224 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1897 |
| Parking Ratio | 0.14/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 3 | - | - |
PROPERTY TAXES
| Parcel Number | 01-05901-0000-00001 | Improvements Assessment | $442,500 |
| Land Assessment | $315,000 | Total Assessment | $757,500 |
PROPERTY TAXES
Parcel Number
01-05901-0000-00001
Land Assessment
$315,000
Improvements Assessment
$442,500
Total Assessment
$757,500
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