55 Patterson St, Hillsdale, NJ 07642

This offering presents a multifamily investment opportunity located at 55 Patterson Street in Hillsdale, New Jersey. The property comprises a unit mix of 12 two-bedroom, two-bathroom residences, alongside 3 one-bedroom units and 1 studio layout. The average unit size is approximately 1,076 square feet, providing spacious living accommodations. Each residence is equipped with high-end finishes, hardwood flooring, and the convenience of an in-unit washer and dryer. The building also features central air-conditioning and heat for year-round comfort.

The property benefits from a prime location in downtown Hillsdale, situated less than a quarter mile from the Hillsdale NJ Transit train station, offering convenient access for commuters. This transit-served community is known for its affluent demographic and top-rated school system, with direct access to New York City via the NJ Transit Pascack Valley Line. The building was constructed in 2012, indicating relatively newer construction for the area.

Currently, the property is 100% occupied, demonstrating its appeal and consistent demand. This occupancy level provides durable in-place income. The existing leases are priced below prevailing market rents, presenting an opportunity for natural mark-to-market growth upon unit turnover. The building is classified as Class B and is zoned C, with a total building area of 30,716 square feet.

The Deauville, as this property is known, is positioned as a stabilized asset in a market where newer luxury multifamily product is seldom available for trading in Bergen County. This scarcity, combined with its irreplaceable location, makes it a notable addition to any multifamily portfolio. The property includes one to two dedicated on-site parking spaces per unit, further enhancing its desirability for residents.