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Sole 448 Palisade Ave 18 Unit Apartment Building $7,190,000 ($399,444/Unit) 5.94% Cap Rate Cliffside Park, NJ 07010
Investment Highlights
- Strong recurring rental income in an in-demand suburban-urban market
- Growth potential as regional real estate demand continues as a commuter hub
- Stable neighborhood fundamentals powered by Cliffside Park’s superb location near New York City
Executive Summary
Exceptional Multifamily Investment Opportunity
Prime Northern New Jersey multifamily asset in the heart of Cliffside Park
448 Palisade Ave represents a rare opportunity to acquire a fully established multifamily property in a high-demand Northern New Jersey community. With quality construction, a strong unit mix, excellent parking and commuter-friendly appeal, this asset is ideal for investors seeking long-term cash flow plus value in a resilient market.
Property Overview
• Address: 448 Palisade Ave, Cliffside Park, NJ 07010
• Property Type: Multifamily apartment building
• Building Size: Approx. 23,800 SF
• Lot Size: ~0.16–0.17 AC
• Stories: 4
• Year Built: 2009–2010 (modern mid-rise construction)
• Units: 18 total units — a mix of 14 two-bedroom and 4 one-bedroom apartments
• Parking: 36 garage parking spaces (ample parking beyond unit needs)
• Occupancy: Historically 100% occupied with strong rental demand
• Zoning: Commercial/Residential multifamily
• Tax Highlights: Low taxes relative to rental income potential
?? Unit Mix & Features
This mid-rise apartment building offers a thoughtful blend of unit types that appeal to a broad tenant base:
• Spacious 2-bed/1-bath units (~1,000 SF avg)
• Comfortable 1-bed/1-bath units (~750–1,050 SF)
• Hardwood flooring and contemporary finishes
• Unit amenities include dishwasher, microwave, kitchen space and accessible layouts
• Controlled building access and attractive common areas
?? Location & Lifestyle
Situated in vibrant Cliffside Park — atop the scenic Hudson Palisades — this property benefits from:
• Excellent walkability with shops, restaurants, parks and services nearby (Walk Score ~85)
• Easy NYC access via bus and ferry routes — perfect for commuters
• Proximity to neighboring Edgewater with additional retail, dining and waterfront attractions
• Close connection to regional transit and highways for Northern NJ and NYC access
?? Investment Highlights
• Strong recurring rental income in an in-demand suburban-urban market
• Low garage parking costs with surplus capacity that could create ancillary income
• Stable neighborhood fundamentals powered by Cliffside Park’s superb location near New York City
• Growth potential as regional real estate demand continues as a commuter hub
?? Summary
448 Palisade Ave represents a rare opportunity to acquire a fully established multifamily property in a high-demand Northern New Jersey community. With quality construction, a strong unit mix, excellent parking and commuter-friendly appeal, this asset is ideal for investors seeking long-term cash flow plus value in a resilient market.
Prime Northern New Jersey multifamily asset in the heart of Cliffside Park
448 Palisade Ave represents a rare opportunity to acquire a fully established multifamily property in a high-demand Northern New Jersey community. With quality construction, a strong unit mix, excellent parking and commuter-friendly appeal, this asset is ideal for investors seeking long-term cash flow plus value in a resilient market.
Property Overview
• Address: 448 Palisade Ave, Cliffside Park, NJ 07010
• Property Type: Multifamily apartment building
• Building Size: Approx. 23,800 SF
• Lot Size: ~0.16–0.17 AC
• Stories: 4
• Year Built: 2009–2010 (modern mid-rise construction)
• Units: 18 total units — a mix of 14 two-bedroom and 4 one-bedroom apartments
• Parking: 36 garage parking spaces (ample parking beyond unit needs)
• Occupancy: Historically 100% occupied with strong rental demand
• Zoning: Commercial/Residential multifamily
• Tax Highlights: Low taxes relative to rental income potential
?? Unit Mix & Features
This mid-rise apartment building offers a thoughtful blend of unit types that appeal to a broad tenant base:
• Spacious 2-bed/1-bath units (~1,000 SF avg)
• Comfortable 1-bed/1-bath units (~750–1,050 SF)
• Hardwood flooring and contemporary finishes
• Unit amenities include dishwasher, microwave, kitchen space and accessible layouts
• Controlled building access and attractive common areas
?? Location & Lifestyle
Situated in vibrant Cliffside Park — atop the scenic Hudson Palisades — this property benefits from:
• Excellent walkability with shops, restaurants, parks and services nearby (Walk Score ~85)
• Easy NYC access via bus and ferry routes — perfect for commuters
• Proximity to neighboring Edgewater with additional retail, dining and waterfront attractions
• Close connection to regional transit and highways for Northern NJ and NYC access
?? Investment Highlights
• Strong recurring rental income in an in-demand suburban-urban market
• Low garage parking costs with surplus capacity that could create ancillary income
• Stable neighborhood fundamentals powered by Cliffside Park’s superb location near New York City
• Growth potential as regional real estate demand continues as a commuter hub
?? Summary
448 Palisade Ave represents a rare opportunity to acquire a fully established multifamily property in a high-demand Northern New Jersey community. With quality construction, a strong unit mix, excellent parking and commuter-friendly appeal, this asset is ideal for investors seeking long-term cash flow plus value in a resilient market.
Property Facts
| Price | $7,190,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $399,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.94% | Building Size | 23,800 SF |
| No. Units | 18 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2010 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | COMMERCIAL, Cliffsid | ||
| Price | $7,190,000 |
| Price Per Unit | $399,444 |
| Sale Type | Investment |
| Cap Rate | 5.94% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 23,800 SF |
| No. Stories | 4 |
| Year Built | 2010 |
| Opportunity Zone |
Yes |
| Zoning | COMMERCIAL, Cliffsid |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Stainless Steel Appliances
- Walk-In Closets
- Wheelchair Accessible (Rooms)
- Large Bedrooms
Site Amenities
- Controlled Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 750 |
| 2+1 | 14 | - | 1,000 |
1 1
Walk Score®
Very Walkable (85)
Property Taxes
| Parcel Number | 06-01201-0000-00018 | Improvements Assessment | $2,500,000 |
| Land Assessment | $256,000 | Total Assessment | $2,756,000 |
Property Taxes
Parcel Number
06-01201-0000-00018
Land Assessment
$256,000
Improvements Assessment
$2,500,000
Total Assessment
$2,756,000
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Sole | 448 Palisade Ave
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