NJ > Highland Park
Highland Park, NJ 08904,117-119 N 3rd AVE
Highland Park, NJ 08904,117-119 N 3rd AVE
Highland Park, NJ 08904,117-119 N 3rd AVE
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$1,350,000
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4,208 SqFt
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117-119 N 3rd AVE Highland Park, NJ 08904

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Gabriel Garces

Gabriel Garces

+1(973) 653-7461

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 4 Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,208 sqft

Price per Sqft $320

MLS Listing ID 2601905R

Year Built 1926

Annual Tax Amount $22,817

Lot Dimensions 0.00 x 0.00

Property Sub-Type 4 Family

Source CJMLS API

Property Description

Welcome to your next cash-flowing asset in the heart of Highland Park! This fully leased 4-unit apartment building offers strong in-place income with upside potential perfect for a savvy investor or an owner-occupant looking to house hack. The property features a balanced mix of *two 2-bedroom/1-bath units* and *two 3-bedroom/1-bath units*, with one of the 3-bedroom units recently renovated and commanding $450 more in monthly rent than its unrenovated counterpart - offering a clear value-add pathway. $84,000 Net Operating Income. Offered at a 6.25% in-place CAP rate with Pro Forma to 7.25% with light renovations. All leases in place through July 2026. Recent upgrades include a full conversion to gas, a brand-new ultra-efficient gas boiler, and a new main waterline, offering peace of mind and reduced operating expenses for years to come. This property has enjoyed zero vacancy and consistent rental demand year after year. Its prime location near Rutgers University and New Brunswick makes it highly attractive to qualified tenants, including academics, graduate students, and medical professionals. Units rent quickly and easily with minimal turnover. Whether you're an investor seeking strong returns or an owner-occupant looking to offset your mortgage, this is a rare opportunity to own a fully leased, income-producing asset in a high-demand rental market. Schedule a showing today!

Location

State NJ

County Middlesex

Rooms

Basement Partial, Laundry Facilities

Interior

Interior Features Unit 1(2 Bedrooms, Kitchen, 1 Bath), Unit 2(3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 3(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 4(3 Bedrooms, Kitchen, 1 Bath, Living Room)

Cooling A/C Wall Unit(s), A/C Window Unit(s)

Appliance Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator), Unit 3(Range/Oven, Refrigerator), Unit 4(Range/Oven, Refrigerator)

Heat Source Natural Gas

Exterior

Exterior Feature Porch(es) - Open

Utilities Available Electricity Connected, Natural Gas Connected

Porch Porch(es) - Open

Building

Lot Description Near Train, Level

Story 2

Sewer Public Sewer

Water Public

Others

Senior Community no

Tax ID 117119NO3RDAVE

Ownership Fee Simple

Energy Description Natural Gas

Central Jersey MLS (CJMLS)
Listed by REAL

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agent

Gabriel Garces

Broker | License ID: 1541468

+1(973) 653-7461

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117-119 N 3rd AVE