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-117-119 N 3rd Avenue, 
Highland Park, NJ 08904

$1,350,000


Bed


Bath


4,208

Sq Ft


Multi-Family

Active

Real

Last updated:

August 6, 2025, 03:14 PM

MLS#

2601905R

Source:

NJ MCMLS

About This Home

-117-119 N 3rd Avenue

Welcome to your next cash-flowing asset in the heart of Highland Park! This fully leased 4-unit apartment building offers strong in-place income with upside potential perfect for a savvy investor or an owner-occupant looking to house hack. The property features a balanced mix of *two 2-bedroom/1-bath units* and *two 3-bedroom/1-bath units*, with one of the 3-bedroom units recently renovated and commanding $450 more in monthly rent than its unrenovated counterpart - offering a clear value-add pathway. $84,000 Net Operating Income. Offered at a 6.25% in-place CAP rate with Pro Forma to 7.25% with light renovations. All leases in place through July 2026. Recent upgrades include a full conversion to gas, a brand-new ultra-efficient gas boiler, and a new main waterline, offering peace of mind and reduced operating expenses for years to come. This property has enjoyed zero vacancy and consistent rental demand year after year. Its prime location near Rutgers University and New Brunswick makes it highly attractive to qualified tenants, including academics, graduate students, and medical professionals. Units rent quickly and easily with minimal turnover. Whether you're an investor seeking strong returns or an owner-occupant looking to offset your mortgage, this is a rare opportunity to own a fully leased, income-producing asset in a high-demand rental market. Schedule a showing today!

Home Facts

Multi-Family

Built in 1926

Price Summary

1,350,000

$320 per Sq. Ft.

MLS #:

2601905R

Last Updated:

August 6, 2025, 03:14 PM

Added:

12 day(s) ago


Rooms & Interior

Interior

Living Area:

4,208 Sq. Ft.


Structure

Structure

Building Area:

4,208 Sq. Ft.

Year Built:

1926


Finances & Disclosures

Finances

Price:

$1,350,000

Price per Sq. Ft:

$320 per Sq. Ft.

Source:NJ MCMLS
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