636 & 654 Lyons Avenue, Irvington, NJ 07 2 Multifamily Properties Offered at $8,900,000 in Irvington, NJ

636 and 654 Lyons Avenue present a rare opportunity to acquire a fully stabilized 59-unit multifamily portfolio strategically located in Irvington, NJ, within Essex County’s highly developed residential corridor. The properties occupy approximately 0.59 acres combined and feature a mix of one-, two-, and three-bedroom apartments, providing diversity for tenant retention and reduced turnover risk. Current occupancy stands at 100%, supported by strong rental demand driven by connectivity to Newark’s employment hub and the greater New York City metropolitan region.
The portfolio benefits from transit-oriented positioning along Lyons Avenue, offering direct access to NJ Transit bus routes, as well as swift connectivity to I-78, Garden State Parkway, and Newark Liberty International Airport. Limited development pipeline and specific zoning constraints in the submarket create a high-barrier-to-entry environment, ensuring continued demand and long-term rent growth. With average in-place rents currently at $1,381 compared to market levels of $1,556, significant upside exists through operational enhancements and natural rent appreciation.