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Northern NJ Rooming House Portfolio 15 Properties Offered at £11,657,641 in Multiple Locations
EXECUTIVE SUMMARY
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.
TAXES & OPERATING EXPENSES (ACTUAL - 2024) Click Here to Access |
ANNUAL |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Taxes |
-
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
-
|
TAXES & OPERATING EXPENSES (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | - |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | - |
PROPERTY FACTS
| Price | £11,657,641 | Number of Properties | 15 |
| Price psf | £73.57 / sq ft | Individually For Sale | 0 |
| Sale Type | Investment | Total Property Size | 158,465 sq ft |
| Status | Active | Total Land Area | 2.08 ac |
| Price | £11,657,641 |
| Price psf | £73.57 / sq ft |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 15 |
| Individually For Sale | 0 |
| Total Property Size | 158,465 sq ft |
| Total Land Area | 2.08 ac |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 52 S Walnut St, East Orange, NJ 07018 | Build-to-Rent | 8,852 sq ft | 1925 | - |
| 50 S Walnut St, East Orange, NJ 07018 | Specialist | 4,000 sq ft | 1930 | - |
| 471 Washington St, Newark, NJ 07102 | Build-to-Rent | 17,000 sq ft | 1897 | - |
| 474 Washington St, Newark, NJ 07102 | Build-to-Rent | 14,000 sq ft | 1915 | - |
| 476 Washington St, Newark, NJ 07102 | Build-to-Rent | 13,000 sq ft | 1915 | - |
| 472 Washington St, Newark, NJ 07102 | Build-to-Rent | 12,265 sq ft | 1915 | - |
| 1163 Broad St, Newark, NJ 07114 | Build-to-Rent | 11,490 sq ft | - | - |
| 17-19 Lincoln Pky, Newark, NJ 07102 | Build-to-Rent | 10,452 sq ft | - | - |
| 168 Clinton Ave, Newark, NJ 07108 | Build-to-Rent | 10,000 sq ft | - | - |
| 11 Lincoln Park, Newark, NJ 07102 | Build-to-Rent | 7,644 sq ft | 1970 | - |
| 677 Clinton Ave, Newark, NJ 07108 | Build-to-Rent | 7,500 sq ft | 1928 | - |
| 75 Baldwin Ave, Newark, NJ 07108 | Build-to-Rent | 4,775 sq ft | 1930 | - |
| 69 Pennsylvania Ave, Newark, NJ 07114 | Build-to-Rent | 2,000 sq ft | 1940 | - |
| 468 Washington St, Newark, NJ 07102 | Specialist | 4,486 sq ft | 1923 | - |
|
The Chelsea House
350 E Main St, Somerville, NJ 08876 |
Build-to-Rent | 31,000 sq ft | 1920 | - |
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Northern NJ Rooming House Portfolio
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