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Buttonwood Apartments 601 Buttonwood Ave 32 Unit Apartment Building $6,750,000 ($210,938/Unit) 6.20% Cap Rate Maple Shade Township, NJ 08052
INVESTMENT HIGHLIGHTS
- Attractive Product Type: Low Density Garden-Style Layout with Private Entrances
- Rental Upside Potential: Average Rent in Place is $1490 and Some Units are Getting $1576
- Long Term Strong Occupancy: Property is Currently 97% Occupied and Historically Runs at 95% or Better
- Access to Highway and Towns: Easy Highway and Public Transit Access to Cherry Hill, Philadelphia, and Downtown Maple Shade
EXECUTIVE SUMMARY
Buttonwood Apartments is a well-maintained, 32-unit garden-style multifamily community located in Maple Shade, New Jersey, one of Burlington County’s most strategically positioned suburban markets. Just minutes from Cherry Hill, Moorestown, and Downtown Philadelphia, this asset benefits from immediate access to Routes 38, 73, and 295, and NJ Transit connections to Philadelphia’s urban core. This excellent location, combined with strong in-place income and upside potential, makes Buttonwood an ideal investment for multifamily buyers.
Constructed in 1965, Buttonwood Apartments features low-density, two-story construction with pitched roofs and a brick façade. The unit mix consists of 18 one-bedroom and 14 two-bedroom layouts, averaging 665 square feet. Units are separately metered for electric and hot water, and the property benefits from township-provided trash collection, further reducing operating expenses for the owner. The current ownership has made interior enhancements and added new appliances, allowing the next investor to focus on implementing a light value-add program to fully capture upside in the rents.
The property is currently 97% occupied, with tenants paying an average in-place rent of $1,492, compared to a market-supported average of $1,570, representing a 5.2% loss-to-lease across the rent roll. Buttonwood’s stable occupancy and proven collections provide a strong foundation for cash flow, while the below-market rents and rising demand in the submarket offer an attractive opportunity for NOI growth.
Maple Shade is a high-demand residential area with strong economic and demographic fundamentals. Its proximity to employment centers like Cherry Hill, Mount Laurel, and downtown Philadelphia, as well as to retail anchors like the Moorestown and Cherry Hill Malls, makes Buttonwood a highly attractive living option for renters. The area also features numerous parks, schools, and public services, contributing to consistently high occupancy levels.
Buttonwood Apartments is a rare opportunity to acquire a stabilized, income-producing multifamily asset with clear value-add potential, favorable utility structures, and an unbeatable location within a thriving South Jersey submarket. Investors will benefit from immediate in-place income with substantial upside through focused management and strategic renovations, positioning Buttonwood as both a reliable cash-flowing asset and a long-term wealth generator.
Constructed in 1965, Buttonwood Apartments features low-density, two-story construction with pitched roofs and a brick façade. The unit mix consists of 18 one-bedroom and 14 two-bedroom layouts, averaging 665 square feet. Units are separately metered for electric and hot water, and the property benefits from township-provided trash collection, further reducing operating expenses for the owner. The current ownership has made interior enhancements and added new appliances, allowing the next investor to focus on implementing a light value-add program to fully capture upside in the rents.
The property is currently 97% occupied, with tenants paying an average in-place rent of $1,492, compared to a market-supported average of $1,570, representing a 5.2% loss-to-lease across the rent roll. Buttonwood’s stable occupancy and proven collections provide a strong foundation for cash flow, while the below-market rents and rising demand in the submarket offer an attractive opportunity for NOI growth.
Maple Shade is a high-demand residential area with strong economic and demographic fundamentals. Its proximity to employment centers like Cherry Hill, Mount Laurel, and downtown Philadelphia, as well as to retail anchors like the Moorestown and Cherry Hill Malls, makes Buttonwood a highly attractive living option for renters. The area also features numerous parks, schools, and public services, contributing to consistently high occupancy levels.
Buttonwood Apartments is a rare opportunity to acquire a stabilized, income-producing multifamily asset with clear value-add potential, favorable utility structures, and an unbeatable location within a thriving South Jersey submarket. Investors will benefit from immediate in-place income with substantial upside through focused management and strategic renovations, positioning Buttonwood as both a reliable cash-flowing asset and a long-term wealth generator.
PROPERTY FACTS
| Price | $6,750,000 | Building Class | C |
| Price Per Unit | $210,938 | Lot Size | 1.07 AC |
| Sale Type | Investment | Building Size | 26,076 SF |
| Cap Rate | 6.20% | Average Occupancy | 97% |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.53/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | 4C | ||
| Price | $6,750,000 |
| Price Per Unit | $210,938 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.07 AC |
| Building Size | 26,076 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.53/1,000 SF |
| Zoning | 4C |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Heating
- High Speed Internet Access
- Tub/Shower
- Views
- Carpet
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Online Services
- Walk-Up
- Smoke Detector
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PROPERTY TAXES
| Parcel Number | 19-00144-0000-00017 | Improvements Assessment | $1,327,100 |
| Land Assessment | $77,800 | Total Assessment | $1,404,900 |
PROPERTY TAXES
Parcel Number
19-00144-0000-00017
Land Assessment
$77,800
Improvements Assessment
$1,327,100
Total Assessment
$1,404,900
(215) 454-2879
x1002
CONTACTS
-
Kenneth Wellar -
Robert DiPasquale -
Kiersten Mangin -
Charles Lang
-
Daniel Yadgaroff -
Corey Lonberger -
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Buttonwood Apartments | 601 Buttonwood Ave
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