387 Park St
- Class A new construction completed in 2024
- 11 residential units: nine 1BR/1BA and two 2BR/2BA
- 100% occupied, fully stabilized income stream
- 5.46% cap rate
- 13,067 SF elevator building on a 0.23-acre lot
- 20 on-site parking spaces
- All utilities separately metered
- Modern lobby and common areas
- Pet-free building
- Convenient Hackensack, Bergen County location
Property Description
KW Commercial / ERG – Elia Realty Group is pleased to present 387 Park Street, a Class A multifamily investment property in Hackensack, NJ. Newly constructed in 2024, the 13,067 SF elevator building sits on a 0.23-acre lot and contains 11 residential units: nine 1-bedroom/1-bath and two 2-bedroom/2-bath apartments. The property is 100% occupied and fully stabilized, offering a 5.46% cap rate. Building features include a modern lobby, common areas, elevator access, and 20 on-site parking spaces. All utilities are separately metered, and the building is pet-free. This is an opportunity to acquire a new-construction, income-producing asset in a convenient Bergen County location with minimal near-term capital needs.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,650,000 |
| No. of Units: | 11 |
| Year Built: | 2024 |
| Lot Size: | 0.23 Acres |
| Opportunity Zone: | No |
| Price per unit: | $422,727 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
2501 Transport Street
Overbrook, Pennsylvania
3269 LIBRARY ROAD
Castle Shannon, Pennsylvania
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout