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6 Alliotts Pl 14 Unit Apartment Building $4,100,000 ($292,857/Unit) 5.75% Cap Rate Palisades Park, NJ 07650
Investment Highlights
- Strong Cash Flow: This property offers stable income with high rental upside
- Excellent Location: Unbeatable access to local shops, dining, and NYC public transportation
- Total of 14 units consisting of 12 spacious 1-Bedroom/1-Bath apartments and 2 Studio apartments
Executive Summary
We are pleased to offer this high-performing 14-unit multi-family building perfectly situated directly on Broad Ave in the heart of Palisades Park. Total of 14 units consisting of 12 spacious 1-Bedroom/1-Bath apartments and 2 Studio apartments. One unit is currently occupied by an on-site Building Superintendent, ensuring smooth day-to-day operations. Excellent Location: Unbeatable access to local shops, dining, and NYC public transportation, making this a highly sought-after location for tenants. Strong Cash Flow: This property offers stable income with high rental upside. Reason for Sale: First time on the market in years—the current owner is retiring, presenting a rare opportunity for a new investor. High Occupancy: Ideally located for easy leasing with historically low vacancy rates. 14 Parking spaces, Roof less than 5 years old, sewer line changed 5 years ago: cost $60,000, emergency lights replaced.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,100,000 | Building Class | C |
| Price Per Unit | $292,857 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 11,774 SF |
| Cap Rate | 5.75% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 0.86/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B-1 - Residential | ||
| Price | $4,100,000 |
| Price Per Unit | $292,857 |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 11,774 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 0.86/1,000 SF |
| Zoning | B-1 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 700 |
| 1+1 | 12 | - | 850 |
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Exceptionally walkable
100/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 45-00222-0000-00011 | Improvements Assessment | $1,888,800 |
| Land Assessment | $630,000 | Total Assessment | $2,518,800 |
Property Taxes
Parcel Number
45-00222-0000-00011
Land Assessment
$630,000
Improvements Assessment
$1,888,800
Total Assessment
$2,518,800
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Contact the Sale Advisor
6 Alliotts Pl