823 Anderson Ave, Fort Lee, NJ 07024

Description

**FULLY APPROVED & ACTIVE MULTIFAMILY DEVELOPMENT SITE** 823 Anderson Avenue presents a rare opportunity to acquire a fully approved and active multifamily redevelopment site in one of Bergen County’s strongest rental markets. The offering includes an existing income-producing two-family residence together with active Planning Board approvals for the construction of a six-unit multifamily residential development. The approved project consists of six 2-bedroom, 2-bathroom residential units, including one affordable housing unit, within an attractive three-story building featuring integrated garage parking with projected market rents of approximately $4,500/month for market-rate units (affordable allowable rent approx. $2,800/month). Situated on an oversized 7,606 SF corner lot with approximately 89 feet of frontage, the property offers a rare combination of: • Active development approvals • Strong projected rental income (Projected gross annual income approximately $303,600) • Existing cash flow during pre-construction planning • Significant parking capacity • Prime NYC commuter location Documentation Included with the Sale: • Fully Approved Borough Planning Board Resolution • Architectural Plans • Site Plans • Property Survey Seller is a licensed NJ Real Estate Broker. For more information, contact listing agent at 201-664-4444.