Northern NJ Rooming House Portfolio 15 Properties Offered at $15,500,000 in Multiple Locations

The portfolio is being offered at $15.5M (±$55,000 per room) and is partially stabilized, with roughly half the units intentionally vacated by the seller to streamline renovations and re-leasing. This proactive approach allows a buyer to step in without delays associated with tenant relocation and move quickly to capture upside. At current occupancy, the portfolio generates an annualized NOI of approximately $856,000, but at stabilization, it is projected to deliver ±$2.33 million in NOI—nearly three times today’s cash flow. This simple but powerful value-add—leasing vacant units at ±$900 per month and modestly adjusting legacy rents—creates the potential for one of the highest-yielding investments available in the multifamily sector today.