344 Kearny AveKearny, NJ 07032

For Sale
$899,000

High-Income, 11-Room Property in NJ

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents an 11-room rooming house located at 344 Kearny Avenue, Kearny, NJ 07032, situated on the corner of Halstead and Kearny Avenues. The property, completely renovated in 2017, boasts a remarkable 100% occupancy rate, generating a substantial monthly income of approximately $7,790. All eleven rooms are furnished identically with a bed, mattress, nightstand, chest, and dresser. The property includes security cameras and a sprinkler system for enhanced safety and peace of mind. The annual gross income is $93,480, with estimated annual expenses and taxes totaling $15,017, insurance at approximately $2,700, and utilities at $7,028. This translates to a 7% capitalization rate. The property is legally compliant and state-certified, with no restrictions. A significant advantage is that the landlord covers all utilities and internet for tenants. This well-maintained property offers a strong return on investment and a stable income stream. This is a turnkey operation ready for a new owner. The property is located in Hudson County, New Jersey, zip code 07032.

Highlights

  • 11-room rooming house in Kearny, NJ, completely renovated in 2017.
  • 100% occupancy, generating $7,790 monthly income ($93,480 annually).
  • All rooms identically furnished; security cameras and sprinkler system installed.
  • Annual expenses: $15,017 (taxes), $2,700 (insurance), $7,028 (utilities); 7% capitalization rate.
  • Landlord pays all utilities and internet; turnkey operation; legally compliant and state-certified.

Location Insight

City
Kearny
County
Hudson
State
New Jersey
Latitude
40.762702
Longitude
-74.1492816
344 Kearny Ave, Kearny, New Jersey

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344 Kearny Ave
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