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82 W Broadway 6 Unit Apartment Building $850,000 ($141,667/Unit) Salem, NJ 08079
Executive Summary
This six-unit apartment building offers an attractive investment opportunity in Salem, New Jersey. With a current occupancy rate of approximately 70%, the property provides immediate income potential with significant upside through improved management or value-add enhancements. The three-story low-rise building is situated on a 0.65-acre parcel within the RLC (Residence-Limited Commercial) zoning district, allowing for flexible residential uses.
Each unit is equipped with essential amenities such as a full kitchen, heating, air conditioning, and in-unit laundry hookups, which support tenant satisfaction and retention. Additional site benefits include off-street parking, tenant-controlled HVAC, and proximity to public transportation options.
Located along W Broadway, this property benefits from strong vehicular access and local connectivity. The area provides convenient proximity to retail, services, and major thoroughfares, supporting demand for multifamily housing. Investors seeking a stabilized asset with growth potential in a well-established neighborhood will find this offering highly compelling.
Each unit is equipped with essential amenities such as a full kitchen, heating, air conditioning, and in-unit laundry hookups, which support tenant satisfaction and retention. Additional site benefits include off-street parking, tenant-controlled HVAC, and proximity to public transportation options.
Located along W Broadway, this property benefits from strong vehicular access and local connectivity. The area provides convenient proximity to retail, services, and major thoroughfares, supporting demand for multifamily housing. Investors seeking a stabilized asset with growth potential in a well-established neighborhood will find this offering highly compelling.
Property Facts
| Price | $850,000 | Building Class | C |
| Price Per Unit | $141,667 | Lot Size | 0.65 AC |
| Sale Type | Investment | Building Size | 5,200 SF |
| No. Units | 6 | Average Occupancy | 70% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1927 |
| Apartment Style | Low-Rise | Parking Ratio | 2.31/1,000 SF |
| Zoning | RLC - Residence-Limited Commercial Districts | ||
| Price | $850,000 |
| Price Per Unit | $141,667 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 5,200 SF |
| Average Occupancy | 70% |
| No. Stories | 3 |
| Year Built | 1927 |
| Parking Ratio | 2.31/1,000 SF |
| Zoning | RLC - Residence-Limited Commercial Districts |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer Hookup
- 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 |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 1 | - | - |
| 3+1 | 3 | - | - |
| 4+1 | 1 | - | - |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 13-00011-0000-00026 | Improvements Assessment | $120,000 |
| Land Assessment | $45,000 | Total Assessment | $165,000 |
Property Taxes
Parcel Number
13-00011-0000-00026
Land Assessment
$45,000
Improvements Assessment
$120,000
Total Assessment
$165,000
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82 W Broadway