St. George Harrison | 400 Passaic Ave
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St. George Harrison 400 Passaic Ave
60 Unit Apartment Building $22,000,000 ($366,667/Unit) Harrison, NJ 07029
Investment Highlights
- 3.15% Fixed Interest Rate Assumable Debt
- 100% Occupancy
- 6 Minute Drive to Harrison PATH Station
- $600+/mo Rent Upside
- 2013 Year Built
- 23 Minutes to NYC by Train
Executive Summary
Situated along the banks of the Passaic River, St. George Apartments epitomizes the perfect blend of luxury, convenience, and versatility. This prime investment opportunity is fully occupied and offers a remarkable $600+/mo rent upside with no rent control. The property features distinguished 1 and 2 bedroom residences, each adorned with cedarstone countertops, hardwood floors, modern appliances, high-quality finishes, and spacious layouts. Residents are treated to an array of amenities, including a private fitness center, a beautifully landscaped courtyard, and an elegant lounge.
Just a six-minute drive from the brand new Harrison PATH station, it provides express train service to Newark Penn Station, Jersey City, and the World Trade Center in a swift 23 minutes. This property exemplifies modern living within a thriving community, surrounded by scenic waterfront parks, diverse restaurants, and vibrant shopping options. Major employers such as Rutgers University-Newark, New Jersey Institute of Technology, and Essex County College are all within a 10-minute drive, making it an ideal location for both
professionals and families
Download OM
https://stgeorge.hudsonatlantic.com
Just a six-minute drive from the brand new Harrison PATH station, it provides express train service to Newark Penn Station, Jersey City, and the World Trade Center in a swift 23 minutes. This property exemplifies modern living within a thriving community, surrounded by scenic waterfront parks, diverse restaurants, and vibrant shopping options. Major employers such as Rutgers University-Newark, New Jersey Institute of Technology, and Essex County College are all within a 10-minute drive, making it an ideal location for both
professionals and families
Download OM
https://stgeorge.hudsonatlantic.com
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $22,000,000 | Building Class | A |
| Price Per Unit | $366,667 | Lot Size | 0.74 AC |
| Sale Type | Investment | Building Size | 88,592 SF |
| No. Units | 60 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2013 |
| Apartment Style | Mid Rise |
| Price | $22,000,000 |
| Price Per Unit | $366,667 |
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | A |
| Lot Size | 0.74 AC |
| Building Size | 88,592 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2013 |
Unit Amenities
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Smoke Free
Site Amenities
- Controlled Access
- Clubhouse
- Courtyard
- Fitness Center
- Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 25 | $2,245 | 720 - 842 |
| 1+2 | 35 | $2,907 | 874 - 910 |
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Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 02-00014-0000-00001 | Total Assessment | $11,500,000 (2024) |
| Land Assessment | $1,200,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $10,300,000 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
02-00014-0000-00001
Land Assessment
$1,200,000 (2024)
Improvements Assessment
$10,300,000 (2024)
Total Assessment
$11,500,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | GB/C |
| GB/C |
-
Adam Zweibel -
Hudson Atlantic Realty
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St. George Harrison | 400 Passaic Ave
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