10
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Listed by Burak Brian Bilgec United Real Estate
$650,000
Est. payment /mo
Under Contract
105 Parkview AVE Elmwood Park, NJ 07407
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Key Details
Property Type Multi-Family
Sub Type 5+Family
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 26005110
Style 5+Family
Property Sub-Type 5+Family
Property Description
Unique investment opportunity in North Jersey delivering immediate cash flow. This state-licensed 8-unit boarding house generates approximately $7,200 per month in gross rental income with month-to-month leases in place. Average tenant stay is about one year, with several long-term residents providing added stability. Each room is furnished with a bed, dresser, TV, and window A/C. Common areas are fully equipped with essential cooking and cleaning supplies. The property features two shared kitchens and two shared bathrooms (one per floor), plus a top-floor studio with a private half bath. Two car detached garage. High-yield asset producing ~$7,205/mo ($86,460/yr) in gross revenue (rooms + parking). Current NOI approximately $60,045/year (~9.24% cap at ask) with meaningful upside via modest rent optimization (pro forma cap ~9.87% at $900/room). Month-to-month occupancy model with established screening process and optional full-service management available. Key updates include new roof/chimney (2022), boiler (2020), and security cameras (2024), plus ongoing interior improvements. Buyer to verify all financials and licensing requirements.
Location
State NJ
County Bergen
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