ICON Real Estate Advisors is pleased to exclusively present the Golden Apple Portfolio, a multifamily and mixed-use offering comprising 111 residential units and 3 retail units totaling 79,850 square feet.
The offering presents an at least 42% NOI upside opportunity in a landlord friendly municipality where there is a mechanism for raising rents to market on vacancy.
Spread across seven properties in West New York, New Jersey, the properties are available as a single portfolio, or as individual properties.
Featuring a balanced mix of studio, one, and two-bedroom residences, and currently below market rent, the Portfolio offers a compelling opportunity for investors seeking near term mark to market upside, stable in-place cash flow and long-term growth in one of the most desirable urban rental markets along the Hudson River Waterfront.
Strategically located throughout West New York, the Portfolio provides residents with convenient access to vibrant commercial corridors, major employers, schools, and popular local attractions in both NJ and New York City. The area benefits from excellent transit connectivity, including multiple NJ Transit bus lines, the Hudson-Bergen Light Rail, and under a 20-minute bus ride to Manhattan. Major roadways, such as Route 1, Route 9, and NJ-495, offer efficient regional access.
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42% NOI Upside Through Mark-to-Market
In-place average rents of $1,564 trail estimated market rents of ~$2,000, creating a clear and achievable path to outsized NOI growth through vacancy turnover and light renovations.
Landlord-Friendly Rent Control
West New York’s Vacancy Capital Improvement Program allows $50/month rent increases for every $1,000 invested in renovating a vacant unit—offering a transparent, compliant, and repeatable value-add strategy.
Immediate Proximity to Manhattan
Minutes from Midtown via Lincoln Tunnel and NJ Transit, the portfolio benefits from New York City wage earners at New Jersey rents, supporting long-term demand, rent resilience, and liquidity.