Carpenter Terrace Portfolio | 5-22 S Carpenter Ter
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Carpenter Terrace Portfolio 5-22 S Carpenter Ter
28 Unit Apartment Building For Sale Belleville, NJ 07109
Investment Highlights
- On-site parking
- 7 units have basements, presenting further value-add opportunity
Executive Summary
The property consists of seven, garden-style apartment buildings with a total of 28 residential units. Buildings 5, 11, 12, 14, 18, 21, 22 Carpenter Terrace are included in the sale.
Tenant responsible for own electric
Each section for 4 units has own gas boiler and hot water heater
Located in a quiet residential neighborhood on the border of Bloomfield
Surrounded by new and upcoming development projects
On-site parking
Very strong rental market
4% rent control and full vacancy decontrol - 8 units in the portfolio do not fall under any rent control
Close to NJ Transit Light Rail Station at Silver Lake
15 miles west of Manhattan
18 parking spaces are owned by the landlord and available for tenant use
Tenant responsible for own electric
Each section for 4 units has own gas boiler and hot water heater
Located in a quiet residential neighborhood on the border of Bloomfield
Surrounded by new and upcoming development projects
On-site parking
Very strong rental market
4% rent control and full vacancy decontrol - 8 units in the portfolio do not fall under any rent control
Close to NJ Transit Light Rail Station at Silver Lake
15 miles west of Manhattan
18 parking spaces are owned by the landlord and available for tenant use
Property Facts
| Sale Type | Investment | Lot Size | 0.47 AC |
| No. Units | 28 | Building Size | 30,000 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1942 |
| Building Class | C | Parking Ratio | 0.6/1,000 SF |
| Sale Type | Investment |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 30,000 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1942 |
| Parking Ratio | 0.6/1,000 SF |
zoning
| Zoning Code | C |
| C |
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Carpenter Terrace Portfolio | 5-22 S Carpenter Ter
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