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119 59TH ST & 5808 Buchanan Place
West New York, NJ

$2,050,000 USD

Multifamily For Sale  •  9,060 SF

2 Properties View all

Property Details

  • Property Type Multifamily
76 Transit Score
96 Walk Score

Highlights

Two Contiguous Buildings Ideally Located in a Quiet Section of West New York with 10 Apartments and 1 Ground Floor Retail Unit.
Strong Unit Mix: Three 1Bed/1Bath, Six 2Bed/1Bath, One 3Bed/1Bath Apartments; 100% Occupied.
Tenants Cover Cooking Gas & Unit Electric, Landlord Covers Heat, Hot/Cold Water and Common Area Electric.
Below Market Rents Can be Increased 27.23% from $212,928 to $270,900 and the NOI Can Be Increased 38.53% From $128,942 to $177,615.
The Cap Rate Can Be Increased From 6.29% to 8.66% and the Total Return From 6.89% to 11.03%.
West New York Allows Owners To Increase a Unit's Base Rent By $50 per $1,000 Spent on Renovations Conducted on Voluntarily Vacated Units.

Property Flyers

Public Transportation

Commuter RailDriveWalkDistance
New York Penn Station (Njt) (Babylon Branch - Long Island Rail Road, Far Rockaway Branch - Long Island Rail Road, Hempstead Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, Montauk Branch - Long Island Rail Road, Montclair-Boonton Line - Long Island Rail Road, Morris & Essex Gladstone Branch - Long Island Rail Road, Morris & Essex Morristown Line - Long Island Rail Road, North Jersey Coast Line - Long Island Rail Road, Northeast Corridor Line - Long Island Rail Road, Port Jefferson Branch - Long Island Rail Road, Port Washington Branch - Long Island Rail Road, Ronkonkoma Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road) 12 min - 4.8 mi
Ny Moynihan Train Hall At Penn Station (Crescent - Amtrak, Ethan Allen Express - Amtrak, Keystone Service - Amtrak, Lake Shore Limited - Amtrak, Northeast Regional - Amtrak) 13 min - 5.0 mi
Transit/SubwayDriveWalkDistance
Port Imperial (Tonnelle Avenue-Hoboken Terminal - Hudson-Bergen Light Rail (Hudson-Bergen Light Rail), West Side Avenue-Tonnelle Avenue - Hudson-Bergen Light Rail (Hudson-Bergen Light Rail)) 3 min 16 min 0.9 mi
Bergenline Avenue (Tonnelle Avenue-Hoboken Terminal - Hudson-Bergen Light Rail (Hudson-Bergen Light Rail), West Side Avenue-Tonnelle Avenue - Hudson-Bergen Light Rail (Hudson-Bergen Light Rail)) 3 min 17 min 0.9 mi
AirportDriveWalkDistance
Newark Liberty International 16 min - 12.4 mi
LaGuardia 29 min - 13.5 mi
John F Kennedy International 37 min - 21.5 mi
Kevin Taub 201-742-6132 Marcus & Millichap
Kevin Taub 201-742-6132 Marcus & Millichap