222 Walker St, Cliffside Park, NJ 07010

The Cliff Garden Apartments, located at 222 Walker St in Cliffside Park, NJ 07010, presents an investment opportunity comprising eleven units. The building features ten one-bedroom, one-bathroom residences and one studio, one-bathroom unit situated on the ground floor. This property is zoned R-3 for apartments and was constructed in 1975. The total building area is 8,000 square feet.

Residents benefit from an on-site laundry facility, enhancing the property's convenience. Seventeen ground floor parking spaces are available for tenants. The landlord is responsible for covering the costs of heat, hot water, and cold water. Tenants are responsible for their individual cooking gas and electricity expenses. This setup contributes to the property's designation as a low-maintenance investment.

A notable advantage of this property is its significant rental upside potential, estimated at 40%, offering opportunities for increased revenue upon tenant turnover. The building has a valid DCA State Inspection, with the certificate remaining valid through 2029, indicating compliance with state safety standards. This property is categorized as an investment property with a cap rate of 4.84%.

The location of The Cliff Garden Apartments provides convenient access to mass transit. The property is situated just a few blocks from the nearest NJ Transit bus stop, facilitating easy commutes for residents. This accessibility is a key factor for attracting and retaining tenants in the Cliffside Park area.