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Luttgen and Elm Portfolio - Linden 2 Multifamily Properties in Linden, NJ
Investment Highlights
- 16-unit, multifamily investment portfolio in Linden, New Jersey
- Additional income is generated through a Verizon antenna lease and on-site laundry facilities located at Elm Street Apartments
- Elm Street Apartments has the ability to convert one-bedroom apartments into two-bedroom apartments
- Value-add opportunity with 12% below market rents
- Both assets are located within walking distance to the Linden Train Station and downtown area
- Luttgen Place Apartments was constructed in 2010 with large open floor-plans with condo quality finishes, separate utilities, and washer/dryer
Executive Summary
The Luttgen and Elm Portfolio offers investors a compelling value-add opportunity, featuring two assets with below-market rents in a highly desirable location within Union County. The portfolio includes a condominium-quality building constructed in 2010 with separate utilities, as well as a garden-style property built in 1960 that has undergone significant capital improvements over the past 15 years—including a new roof, windows, boiler, hot water heaters, and all-new electric and water lines. The Luttgen and Elm portfolio stands as a proven value-add investment opportunity, with the potential to increase NOI by 17%.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 15,538 SF |
| Number of Properties | 2 | Total Land Area | 0.43 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 15,538 SF |
| Total Land Area | 0.43 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 415 E Elm St, Linden, NJ 07036 | Multifamily | 8,002 SF | 1929 | - |
| 104 Luttgen Pl, Linden, NJ 07036 | Multifamily | 7,536 SF | 2010 | - |
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Luttgen and Elm Portfolio - Linden