Please contact listing agent Lee Luedtke at 215-531-7076 or Lieben.Luedtke@marcusmillichap.com for additional details about this listing.
The Arch Avenue Apartments is a 15-unit apartment complex located in Newfield, New Jersey. The site consists of 1 efficiency apartment, 4 one-bedroom apartments, and 10 two-bedroom apartments. The investment property is comprised of 4 buildings located on two tax parcels. This offering represents a rare opportunity to purchase a stabilized, fully occupied value-add apartment complex in a working-class neighborhood in Southern New Jersey.
Each unit features separate hot air units and water heaters. Select kitchens have been renovated with new fittings, cabinets, and appliances. Most two-bedroom units feature in-suite washer/dryer hook-ups. Tenants are provided with ample off-street parking. The exterior of each building has been well-maintained, and select roofs have been replaced.
Newfield's economy is driven by agriculture, education, and retail trade. The Arch Avenue Apartments are conveniently located within walking distance of the Newfield Borough, downtown area, and NJ Transit bus stops. Vineland is 5 minutes away, and has a population of 60,000 residents. The city has a large downtown area featuring various restaurants, banks, and shopping centers.
This offering is centrally located 45 minutes from Philadelphia, the shore towns of New Jersey, and the Delaware Memorial Bridge.
