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563 59th Street, West New York, NJ. 07093 563 59th St 10 Unit Apartment Building $1,100,000 ($110,000/Unit) 6.31% Cap Rate West New York, NJ 07093

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Investment Highlights

25'x100' lot size, Two separate buildings, renovated units.

Executive Summary

CALLING ALL INVESTORS!! FOUR FAMILY WITH HIGH INCOME located right off Bergenline Ave in West NY. ***UNIT #2 is now vacant*** The property consists of (1) 3-bedroom duplex, (2) 2-bedroom apts, and (1) 2-bedroom private back building with courtyard. All apartments have large spacious layouts. Extra-large lot coverage (25'x100). Well maintained and renovated with tons of upside potential in the rents. True "value add" or condo conversion opportunity. Please call/text listing agent for income/expenses & to schedule a private viewing. This property may qualify for Fannie Mae's low down payment loan program (consult your lender).
Virtual tour: https://my.matterport.com/show/?m=svhur5tyrCx

LPF

Disclosure

Income & Expenses

Financial Summary (Pro Forma - 2025)	Annual	Annual Per SF
Gross Rental Income	$94,800	$41.04
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$94,800	$41.04
Taxes	$12,032	$5.21
Operating Expenses	$13,368	$5.79
Total Expenses	$25,400	$11.00
Net Operating Income	$69,400	$30.04

Financial Summary (Pro Forma - 2025)

Gross Rental Income
Annual	$94,800
Annual Per SF	$41.04

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$94,800
Annual Per SF	$41.04

Taxes
Annual	$12,032
Annual Per SF	$5.21

Operating Expenses
Annual	$13,368
Annual Per SF	$5.79

Total Expenses
Annual	$25,400
Annual Per SF	$11.00

Net Operating Income
Annual	$69,400
Annual Per SF	$30.04

Property Facts Under Contract

Price	$1,100,000	Building Class	C
Price Per Unit	$110,000	Lot Size	0.06 AC
Sale Type	Investment	Building Size	2,310 SF
Cap Rate	6.31%	Average Occupancy	75%
No. Units	10	No. Stories	3
Property Type	Multifamily	Year Built	1919
Property Subtype	Apartment General Retail Storefront Retail/Residential Multifamily Manufactured Housing Mobile Home Park Multifamily Dormitory	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	R-M

Price	$1,100,000
Price Per Unit	$110,000
Sale Type	Investment
Cap Rate	6.31%
No. Units	10
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential Multifamily Manufactured Housing Mobile Home Park Multifamily Dormitory
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.06 AC
Building Size	2,310 SF
Average Occupancy	75%
No. Stories	3
Year Built	1919
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R-M

Unit Amenities

Cable Ready
Eat-in Kitchen
Kitchen

Hardwood Floors
Refrigerator
Range

Tub/Shower
Yard
Basement

Dining Room
Double Pane Windows

Site Amenities

24 Hour Access
Controlled Access

Tenant Controlled HVAC

Walk-Up

Smoke Detector

Unit Mix Information

Description	No. Units	Avg. Rent/Mo	SF
3+2	1	$2,300	-
2+1	2	$2,150	-
2+1	3	$1,950	-
2+1	4	$1,500	-

Property Taxes

Parcel Number	12-00126-0000-00010	Total Assessment	$150,000
Land Assessment	$49,000	Annual Taxes	$12,032 ($5.21/SF)
Improvements Assessment	$101,000	Tax Year	2025