Value-add 6-unit multifamily with a clear, validated path to continue growing NOI while delivering the immediate cash flow and stability of a core-plus investment at a 7.27% cap rate on current financials. Since listing in August, storage lease-up and lease renewals have lifted NOI from about $93,000 to $95,900 (7.05% to 7.27% cap rate at the same price, despite higher expenses) at 100% occupancy. The property generates more than $135,000 in annual gross income from 6 apartments, 3 garages and 5 storage units in a detached building, all leased. Current apartment and ancillary rents remain below market, providing approximately $8,880 of additional annual income before any further unit renovations. Additional upside remains through completion of a renovation program already executed within the same property and 7 new storage units in unused basement space. Ownership has invested over $225,000 in capital improvements since 2023, completing renovations across 4 units while addressing major capex items and deferred maintenance throughout. The remaining scope is limited to 2 partially updated units, giving buyers a clearly defined renovation strategy proven by higher achieved rents on site. Environmental items have been proactively addressed, rigorous screening has produced a stable tenant base, and established management systems support an efficient transition. Located about 60 minutes from NYC with convenient access to Routes 57, 31 and I-78, within walking distance of downtown.

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Property Details of 59 Railroad Avenue, Unit 6

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Listed by Mark Gutierrez of Nj Realty Systems Llc. (800-455-2059)

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 Based on information submitted to GSMLS as of October 27, 2026 8:49 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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