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348 Kearny Ave
Kearny, NJ 07032
Specialized Asset - Rooming Houses · Multifamily Property For Sale
Executive Summary
High-Density Income Generation: Multi-unit asset offering strong cash flow potential across multiple properties (Individual Rooms, 2 x Studio apartments, 1 x 1BD Apartment), positioning an investor to maximize revenue per square foot.
Immediate Value-Add Opportunity: Currently operating well below full occupancy with multiple inactive units, immediate revenue expansion without major structural expansion.
Turnkey Interior Upgrades: Over $100,000 recently invested in capital improvements, permitting, and license remediation, including new vinyl flooring and fresh paint across multiple properties.
Low Initial Tax Burden: Current assessed taxes keep fixed overhead relatively low while restabilizing operations.
Repositioning Flexibility: Zoning provides flexibility for potential long-term repositioning or unit-mix optimization depending on local municipal allowances.
Location: Properties situated in Kearny (Hudson County) and Lodi (Bergen County), NJ — positioned directly within NYC commuting corridors and in close proximity to major NJ hubs of Newark, Paterson, and Jersey City.
Transit & Commute: Highly walkable (Walk Score 80/100) and transit-accessible (Transit Score 90/100). Located ~1 mile from the Harrison PATH station and close to NJ Transit rail (Newark Broad St) for direct access into Manhattan.
Strong Demand for Workforce/Student Housing: Minutes from major employment and educational hubs, including Rutgers-Newark (1.5 mi), NJIT, Essex County College, and Saint Michael’s Medical Center aligns well with high local demand for affordable/workforce housing and nearby university populations.
For more information, see our website: https://auctionadvisors.com/property-details/property_443/
Immediate Value-Add Opportunity: Currently operating well below full occupancy with multiple inactive units, immediate revenue expansion without major structural expansion.
Turnkey Interior Upgrades: Over $100,000 recently invested in capital improvements, permitting, and license remediation, including new vinyl flooring and fresh paint across multiple properties.
Low Initial Tax Burden: Current assessed taxes keep fixed overhead relatively low while restabilizing operations.
Repositioning Flexibility: Zoning provides flexibility for potential long-term repositioning or unit-mix optimization depending on local municipal allowances.
Location: Properties situated in Kearny (Hudson County) and Lodi (Bergen County), NJ — positioned directly within NYC commuting corridors and in close proximity to major NJ hubs of Newark, Paterson, and Jersey City.
Transit & Commute: Highly walkable (Walk Score 80/100) and transit-accessible (Transit Score 90/100). Located ~1 mile from the Harrison PATH station and close to NJ Transit rail (Newark Broad St) for direct access into Manhattan.
Strong Demand for Workforce/Student Housing: Minutes from major employment and educational hubs, including Rutgers-Newark (1.5 mi), NJIT, Essex County College, and Saint Michael’s Medical Center aligns well with high local demand for affordable/workforce housing and nearby university populations.
For more information, see our website: https://auctionadvisors.com/property-details/property_443/
Property Facts
| Price / SF | $153.11 / SF | Number of Properties | 3 |
| Sale Condition | Distress Sale | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 11,103 SF |
| Status | Active | Total Land Area | 0.30 AC |
| Price / SF | $153.11 / SF |
| Sale Condition | Distress Sale |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 11,103 SF |
| Total Land Area | 0.30 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 348 Kearny Ave, Kearny, NJ 07032 | Multifamily | 4,858 SF | 1920 | - |
| 19 Kearny Ave, Kearny, NJ 07032 | Multifamily | 3,945 SF | 1920 | - |
| 11 Terhune Ave, Lodi, NJ 07644 | Multifamily | 2,300 SF | 1920 | - |
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