10 66th St, West New York, NJ 07093

Property Description

Six-unit, three-story brick multifamily two buildings in from Boulevard East, West New York. Five one-bedroom, one-bath apartments and one studio. Built 1904. Newer roof, newer furnace and two newer hot water heaters, per owner. All six apartments rented. Owner provides heat and hot water. Hardwood parquet floors in living rooms and bedrooms, spacious rooms, shared laundry on the first floor. Bus and jitney service at the corner of Boulevard East and 66th Street, with access to New York City. No on-site parking; street parking with municipal permit. Rent roll: 1-A $1,556, 1-B (studio) $1,310, 2-A $1,447, 2-B $1,900, 3-A $1,900, 3-B $1,863. Total monthly rent $9,976. Total annual gross rent $119,712. Estimated annual operating expenses $31,397. Net operating income $88,315. At the $1,399,000 asking price, net operating income divided by price gives an approximate 6.31% cap rate. Income and expense figures are approximate, provided by the owner and subject to buyer verification.