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Asking Price - $1,350,000
Days on Market - 44
117-119 N 3rd Avenue
Highland Park, NJ 08904
Featured Agent
EveryHome Realtor
Asking Price
$1,350,000
Days on Market
44
Bedrooms
10
Full Baths
0
Age
99
Gas
Natural Gas
Cooling
Window Unit
Water
Public
Sewer
Public
Basement
Partial
Taxes
$22,817
Parking
On Street
Additional Details Below
EveryHome Realtor
Views: 8
Featured Agent
EveryHome Realtor
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
Listing Details
Summary
Design Type
•Multi Family
Interior Features
Basement
• Partial, Laundry Facilities
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)
Appliances
• 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)
Exterior Features
Lot Features
• Near Train, Level
Exterior Features
• Porch(es) - Open, Porch(es) - Open
Utilities
Cooling
• A/C Wall Unit(s),A/C Window Unit(s)
Additional Utilities
• Electricity Connected, Natural Gas Connected
Miscellaneous
Lattitude : 40.500815
Longitude : -74.428548
MLS# : 2601905R
Views : 8
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Notes
Page: © 2025 EveryHome, Realtors, All Rights Reserved.
The data relating to real estate for sale on this website comes in part from the IDX Program of the Central Jersey Multiple Listing Service. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright © 2025 Central Jersey State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.
Presentation: © 2025 EveryHome, Realtors, All Rights Reserved. EveryHome is licensed by the New Jersey Real Estate Commission - License 0901599
Real estate listings held by brokerage firms other than EveryHome are marked with the IDX icon and detailed information about each listing includes the name of the listing broker.
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Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale.
Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. For information on those properties withheld from the internet, please call 215-699-5555
