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Value-Add Bergen County Mixed-Use 390 Fairview Ave 6 Unit Apartment Building $1,900,000 ($316,667/Unit) 5.85% Cap Rate Fairview, NJ 07022
Investment Highlights
- All Brick Building With (1) Retail Unit And (5) Residential Apartments
- Residential Unit Mix Consists of (3) 2 Bed/1 Bath Units and (2) 3 Bed/1 Bath Units
- Favorable Rent Control – 10% Annual Increase on Existing Tenant*, Vacancy Decontrol
Property Facts
| Price | $1,900,000 | Building Class | C |
| Price Per Unit | $316,667 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 5,185 SF |
| Cap Rate | 5.85% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment | Parking Ratio | 0.58/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RC - Commercial mixed use | ||
| Price | $1,900,000 |
| Price Per Unit | $316,667 |
| Sale Type | Investment |
| Cap Rate | 5.85% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,185 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1912 |
| Parking Ratio | 0.58/1,000 SF |
| Zoning | RC - Commercial mixed use |
Amenities
Unit Amenities
- Balcony
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | 736 |
| 3+1 | 2 | - | 916 |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 18-00229-0000-00001 | Improvements Assessment | $748,700 |
| Land Assessment | $225,000 | Total Assessment | $973,700 |
Property Taxes
Parcel Number
18-00229-0000-00001
Land Assessment
$225,000
Improvements Assessment
$748,700
Total Assessment
$973,700
Contacts
-
Alan Cafiero -
Devin Perez -
John Moroz -
Christopher Gerena -
David Cafiero -
Marcus & Millichap
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