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12-16 Ampere Pky

21 Unit Apartment Building $4,110,663 CAD ($195,746 CAD/Unit) 5.39% Cap Rate East Orange, NJ 07017

Apartment Buildings New Jersey East Orange 12-16 Ampere Pky, East Orange, NJ 07017

Investment Highlights

  • 20,000 SF Mixed-Use Building
  • Ample room to grow rent through capital improvement plan
  • High Vehicular Traffic
  • Value-Add Opportunity
  • Prime location in East Orange, NJ

Executive Summary

IPRG NJ, as the exclusive broker, is proud to present the sale of the property located at 12 Ampere Parkway in the Ampere neighborhood of East Orange, New Jersey. The 3-story, 12,342 square foot mixed-use building consisting of 19-apartments and 2-ground floor retail units. The two retail tenants located in the building are "His & Hers Hair Boutique" and "K&E Mini Market." Two billboards are also located at the property and are income producing.
This property provides an excellent value-add opportunity for investors, as the apartment rents are under market-rate and have flexible lease options currently in place. The unit mix consists of 17 one-bedrooms, 2 studios, and two retail units. Additionally, the asset is located in a prime neighborhood of East Orange.

Attachments

12_Ampere_Pkwy_Setup

Property Facts

Price $4,110,663 CAD Apartment Style Low Rise
Price Per Unit $195,746 CAD Building Class C
Sale Type Investment Lot Size 0.10 AC
Cap Rate 5.39% Building Size 12,342 SF
No. Units 21 Average Occupancy 100%
Property Type Multifamily No. Stories 3
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
 Year Built 1929
Price $4,110,663 CAD
Price Per Unit $195,746 CAD
Sale Type Investment
Cap Rate 5.39%
No. Units 21
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Low Rise
Building Class C
Lot Size 0.10 AC
Building Size 12,342 SF
Average Occupancy 100%
No. Stories 3
Year Built 1929

Unit Amenities

  • Air Conditioning
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 4 - -
1+1 34 - -
1 of 1
Walk Score ®
Very Walkable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Numbers
Multiple
  • 05-00097-0000-00003-0000-B01
  • 05-00097-0000-00003
  • 05-00097-0000-00003-0000-B02
 Improvements Assessment $2,066,845 CAD
Land Assessment $96,620 CAD Total Assessment $2,163,465 CAD

PROPERTY TAXES

Parcel Numbers
Multiple
  • 05-00097-0000-00003-0000-B01
  • 05-00097-0000-00003
  • 05-00097-0000-00003-0000-B02
Land Assessment
$96,620 CAD
Improvements Assessment
$2,066,845 CAD
Total Assessment
$2,163,465 CAD

zoning

Zoning Code Gateway Commercial (C-1) (4A - Commercial)
Gateway Commercial (C-1) (4A - Commercial)
(718) 360-5432

Contact

  • Listing ID: 32569297

  • Date on Market: 2024-07-24

  • Last Updated:

  • Address: 12-16 Ampere Pky, East Orange, NJ 07017

The Multifamily Property at 12-16 Ampere Pky, East Orange, NJ 07017 is currently available for sale. Contact Investment Property Realty Group for more information.

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12-16 Ampere Pky
(718) 360-5432 x

12-16 Ampere Pky

Jack Drillock

(718) 360-5432

(718) 360-5432

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