1. New Jersey
  2. Highland Park
  3. 117-119 N 3rd Avenue
$1,350,000

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

  • 4,208 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1926
  • Property Lot Size Icon —— sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $321/sqft
  • Property List Date Icon Listed 22 days ago

Property Description

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!

Listing Status:
Active
Date Added:
August 4, 2025 at 05:00AM
Listing Office:
REAL : 855-450-0442
Listing Agent:
RAJ RYALI :
MLS ID:
2601905R
  • General: Unit 1(2 BedroomsKitchen1 Bath)Unit 2(3 BedroomsKitchen1 BathLiving Room)Unit 3(2 BedroomsKitchen1 BathLiving Room)Unit 4(3 BedroomsKitchen1 BathLiving Room)
  • Appliances: Water Heater(Gas)Water HeaterUnit 1(Range/OvenRefrigerator)Unit 2(Range/OvenRefrigerator)Unit 3(Range/OvenRefrigerator)Unit 4(Range/OvenRefrigerator)
  • Basement: PartialLaundry Facilities
  • A/C: A/C Wall Unit(s)A/C Window Unit(s)
  • Heating: None

This listing courtesy of RAJ RYALI, REAL

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

B

Bartle Elementary School

435 Mansfield St, Highland Park, NJ, 08904

Grades 2-5

0.43 miles away

H

Highland Park Middle School

330 Wayne St, Highland Park, NJ, 08904

Grades 6-8

0.20 miles away

H

Highland Park High School

102 N 5th Ave, Highland Park, NJ, 08904

Grades 9-12

0.20 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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