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550 Washington AveBelleville, NJ 07109
Washington Heights Belleville
Asset ClassMultifamily
# Units66
# Units: 66Land: 2 Acres# Buildings: 2Access Data Room
66 Garden Apartment Units | Belleville, NJ | Value-Add Opportunity | Prime Location
overview of deal

Overview

Washington Heights is a well-maintained residential community located in Belleville Township, featuring 66 apartment units across three, three-story buildings constructed in 1972. The property offers a selection of one and two bedroom floor plans, with unit features including full kitchens, tile bathrooms and heating. Its location along Washington Avenue provides seamless access to Route 21, offering residents both convenience and connectivity. With its suburban setting and thoughtfully designed units, Washington Heights presents a comfortable living experience in a quiet yet accessible neighborhood.

 

Positioned in the heart of Belleville, Washington Heights benefits from a prime location just 9 miles from Manhattan and 5 miles from Newark. Residents enjoy seamless access to New Jersey's public transit system, with nearby bus stops and rail stations providing convenient connections to both Newark and New York. The property is also surrounded by a variety of local amenities such as Taco Bell, Signature Fitness, and Walgreens. Outdoor enthusiasts can explore nearby Branch Brook Park, known for its expansive green space and iconic Cherry Blossom Festival. Major employers in the area, including Clara Maass Medical Center, Belleville Public Schools, Veritiv, and Magister Hydraulics, contribute to a vibrant local economy and provide ample job opportunities for residents.

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Investment Highlights

  • 600k+ Value-add Opportunity The remaining units provide a clear path to unlock over $600k in additional annual NOI through renovations
  • Proven Renovation Upside 26 of 66 units have been fully gut-renovated, each achieving $750+ monthly rent increases
  • 4 Min Walk to Nearby Bus Stop
  • ~45 Min to NYC via Train
  • Seamless Access to Major Highway Route 21
  • Close Proximity to Various Amenities

 

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550 Washington AveBelleville, NJ 07109

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