300 Garibaldi Ave, Lodi, NJ 07644
300 Garibaldi Ave, Lodi, NJ 07644Basic Details
- Date added: Added 1 month ago
- Type: Commercial
- Category: For Sale
- Status: Closed
Description
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Description:
10 Unit Apartment Building $2,199,999 ($220,000/Unit) 6.31% Cap Rate Lodi, NJ 07644
Trophy 10-Unit Multifamily Investment | Prime Bergen County Location - Property Website: https://lekker.hd.pics/300-Garibaldi-Ave KW Commercial exclusively represents this opportunity to acquire a stabilized, income-producing 10-unit residential property located in the heart of Bergen County, NJ. Built in 1970 and well maintained, this low-rise brick building offers a strong blend of long-term tenant retention, consistent cash flow, and future rental upside. The unit mix consists of efficiently laid-out 1-bedroom apartments featuring hardwood floors, wall-unit AC, shared laundry facilities, and off-street parking. With a newer roof, updated mechanicals, and full occupancy, this asset provides immediate income with minimal maintenance. Located just minutes from Route 46, I-80, and the George Washington Bridge, the property offers exceptional commuter access and proximity to key commercial corridors. Property Highlights: * 10 residential units | 100% leased * Net Operating Income: $132,045 * Cap Rate: 6.0% * Projected IRR: 14.5% over 10 years * Building Size: ±6,800 SF | Lot Size: ±7,731 SF * All brick construction with surface parking * No DEP wetlands or FEMA flood issues * Strategically positioned near NYC, public transit, shopping, and dining This is a rare opportunity to secure a turnkey, performing asset in one of Northern New Jersey’s most competitive and supply-constrained markets
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Property Details
- Area: 6,048 sq ft
- Year built: 1960/2019
- Sale Type: Investment
- Cap Rate: 6.31%
- No. Units: 10
- Apartment Style: Low-Rise
- Lot Size: 0.19 AC
- Average Occupancy: 97%
- Building Size: 6,048 SF
- Building Class: C
- Property Subtype: Office Office Residential, Apartment, General Retail Storefront Retail/Residential
- Parking Ratio: 1/1,000 SF
- Opportunity Zone: Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
- Zoning: N/Av, Lodi - Multi-family Zoning
Highlights
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- 10 Residential Units | Fully leased and performing
- Cash-on-Cash Return: 4.0% (Year 1) with value appreciation over time
- Strong operating income: $138,921 NOI
- 6.0% Cap Rate on day one
- Projected IRR: 14.5% over 10 years
- Located in an area of minimal flood risk with no DEP or wetland restrictions
Property Taxes
- Parcel Number: 31-00137-0000-00021
- Land Assessment: $245,200 (2025)
- Improvements Assessment: $424,800 (2025)
- Total Assessment: $670,000 (2025)
Agent
Bruce Elia
KW Commercial Fort Lee
Elvis Durakovic
KW Commercial Fort Lee
Location
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