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Listing provided by LightBox Revere
610 Salem AveElizabeth, NJ 07208
610 Salem Ave
$550+ in Upside per Unit
Overview
Icon Real Estate Advisors presents 610 Salem Avenue, a fully occupied, six-story multifamily property offering 77 units averaging ±802 SF, built in 1920 on a ±0.80-acre lot in one of Northern New Jersey's most dynamic, transit-oriented rental markets.
Located near major employment anchors like Newark Liberty International Airport and RWJBarnabas Health, with seamless access to Newark and NYC, the Property offers stable in-place income, a clear mark-to-market upside, and limited competing supply — an ideal opportunity to acquire durable cash flow in a high-demand urban submarket.
Investment Highlights
- Stable, Fully Occupied Asset – 77-unit multifamily property with 100% occupancy, delivering immediate, in-place cash flow from day one.
- Value-Add Upside – Clear mark-to-market opportunity allows investors to capture significant rental growth as leases turn over.
- Strategic, Transit-Oriented Location – Situated in Elizabeth, Union County, with seamless access to Newark and New York City, driving strong and durable tenant demand.
- Proximity to Major Employment Drivers – Minutes from Newark Liberty International Airport and RWJBarnabas Health, anchoring a deep and diverse renter base.
- Supply-Constrained Submarket – High population density and limited competing inventory support long-term rent growth and occupancy stability.
- Scaled, Efficient Asset – Six-story, 77-unit building (±802 SF average unit size) offers operational efficiencies typical of institutional-quality assets.
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610 Salem AveElizabeth, NJ 07208
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Listing provided by LightBox Revere