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56-58 S Broadway 8 Unit Apartment Building $1,950,000 ($243,750/Unit) 6% Cap Rate Pitman, NJ 08071
INVESTMENT HIGHLIGHTS
- Next to Rowan University. Pitman was Rated #1 community to live in by Philadelphia magazine.
EXECUTIVE SUMMARY
8 unit mix use in downtown Pitman NJ. There are 2 retail units and 6 apartments
All brand new plumbing, electric, hvac, roof, siding, hard wood flooring, granite bathrooms, new stainless steel appliances, new kitchen cabinets, full sprinkler system.
Free rear parking up to 40 parking spots.
100% occupied all separated meters.
Down the block from Famous Pitman Theater and Police Station
Please do not visit site or discuss with tenants.
Unit Mix Information:
1st Floor:
-Store 1 with a separate bathroom
-Store 2 with a separate bathroom
-Apartment 1 (1 bed/1 bath)
-Apartment 2 (Studio/1 bath)
2nd Floor:
-Apartment 3 (4 bedroom/1 bath)
-Apartment 4 (1 bed/1 bath)
3rd Floor
Apartment 5 (3bed/1bath)
Apartment 6 (3bed/1bath)
All brand new plumbing, electric, hvac, roof, siding, hard wood flooring, granite bathrooms, new stainless steel appliances, new kitchen cabinets, full sprinkler system.
Free rear parking up to 40 parking spots.
100% occupied all separated meters.
Down the block from Famous Pitman Theater and Police Station
Please do not visit site or discuss with tenants.
Unit Mix Information:
1st Floor:
-Store 1 with a separate bathroom
-Store 2 with a separate bathroom
-Apartment 1 (1 bed/1 bath)
-Apartment 2 (Studio/1 bath)
2nd Floor:
-Apartment 3 (4 bedroom/1 bath)
-Apartment 4 (1 bed/1 bath)
3rd Floor
Apartment 5 (3bed/1bath)
Apartment 6 (3bed/1bath)
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,950,000 | Building Class | C |
| Price Per Unit | $243,750 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 6,500 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Parking Ratio | 6.15/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | C1 - Commercial | ||
| Price | $1,950,000 |
| Price Per Unit | $243,750 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 6,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2018 |
| Parking Ratio | 6.15/1,000 SF |
| Zoning | C1 - Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Granite Countertops
PROPERTY TAXES
| Parcel Number | 15-00002-0000-00003 | Improvements Assessment | $443,600 (2025) |
| Land Assessment | $79,500 (2025) | Total Assessment | $523,100 (2025) |
PROPERTY TAXES
Parcel Number
15-00002-0000-00003
Land Assessment
$79,500 (2025)
Improvements Assessment
$443,600 (2025)
Total Assessment
$523,100 (2025)
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Presented by
Aya Investments, Inc.
56-58 S Broadway
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