This project is ideal for a buy and hold investor to add an underpriced 4 unit commercial property to their portfolio.
Located in a prime location close to the border of Belleville and Bloomfield. Residential units face Davenport Ave, while the commercial space has great exposure on Bloomfield Avenue.
Walking distance to numerous shops and restaurants. Public transportation is easily accessible off of Bloomfield Avenue. The Garden State Parkway is a 3 minute drive from the property making commuting easy.
The property has a current Cap Rate of 6.2%, with under market rents. Market rents would yield a projected Cap Rate of 8.96%.
For a full breakdown of financials and more photos/videos, please refer to the below OM
https://docs.google.com/document/d/1GQYl9Cxo2MwCm3jMC4kHy22Jh5PZARC24_kIATTBM9o/edit?usp=sharing
