Icon Real Estate Advisors is pleased to present Chestnut Commons (the "Property"), a 48-unit multifamily community situated on ±9.0 acres in Salem, New Jersey. The Property comprises three two-story residential buildings with a mix of one- and two-bedroom residences — the majority of which are two-bedroom, 1.5-bath layouts featuring private entrances, individual HVAC systems, and pitched roofs that give the community a townhome-style feel uncommon in traditional garden apartment product.

Chestnut Commons represents a compelling value-add opportunity in a submarket defined by limited new supply, strong affordability fundamentals, and growing demand for quality rental housing. The existing floor plans accommodate in-unit washer/dryer installation, providing a clear path to rental premiums through a targeted unit upgrade program. With meaningful upside embedded in the current rent roll and a resident-friendly location offering convenient access to Wilmington, Philadelphia, and major employment corridors across Southern New Jersey, the Property is well-positioned to deliver both near-term income growth and long-term asset appreciation.