275 Grand Ave, Leonia, NJ 07605

This fully occupied, 6-unit multifamily building located at 275 Grand Ave in Leonia, NJ, presents a turnkey investment opportunity. Zoned A-3 and situated on a 7,700 square foot lot, the property is designed to offer strong cash flow and immediate rental income in a desirable location. The building's unit mix includes five spacious two-bedroom units and one one-bedroom unit, configurations that are optimized for stable tenant retention and consistent rental demand.

Significant renovations have been completed on four of the six units, incorporating modern finishes that allow for the immediate capture of top-of-market rents. This strategic updating ensures the property remains competitive and attractive to prospective tenants. The building itself, constructed in 1960, features a classic and durable brick facade, which contributes to lower ongoing maintenance costs and long-term structural integrity. This exterior design choice minimizes the need for frequent repairs and upkeep.

The property benefits from a comprehensive program of major capital improvements, addressing deferred maintenance and protecting the buyer from unexpected expenditures. Key infrastructure upgrades include a brand-new, modernized fire sprinkler system, which not only enhances safety but also contributes to lower insurance premiums. A new intercom system has also been installed, improving building security and tenant convenience. These safety and security enhancements are critical components of a well-maintained multifamily asset.

Further enhancing the property's appeal and functionality is the newly paved parking lot, which provides 13 off-street spaces. This offers a parking-to-unit ratio exceeding 2:1, a significant amenity in this area. Additionally, an engineered professional drainage system has been implemented to protect the building's foundation from water damage. With all major structural, safety, and unit upgrades completed, this asset represents a rare, low-management investment opportunity, suitable for portfolio growth or as a 1031 exchange property.