Investment Overview

Marcus & Millichap is excited to represent ownership in the sale of 644 Oradell Avenue, a well maintained, 9 unit multifamily building located in the highly desirable Borough of Oradell, Bergen County, New Jersey. The property is situated on the north side of Oradell Avenue Between Kindekamack Road and Prospect Avenue, Immediately opposite Oradell's municipal parking lot. The property consists of a two-story, wood frame, walk-up apartment building with nine (9) residential units, including two (2) studios and seven (7) one-bedroom/one-bathroom units. The building is located on a 0.222-acre parcel, measuring approximately 71 feet by 152 feet, and is designated as Block: 403 Lot: 16 within the B1 zoning district. The asset is owned and professionally maintained by the same investment group since 2005, reflecting a strong history of stable operations. Each apartment is individually metered for gas and electricity, with tenants responsible for their own utility consumption, including cooking gas and electricity. Ownership is responsible for common area electric, heating and water/sewer expenses. The property is in one of Bergen County's most sought after residential communities. Oradell is consistently recognized for its high quality of life, strong school system and affluent demographics, with a median household income of approximately $221,322 - substantially exceeding the national average. The property presents a compelling value-add opportunity. The current Net Operating Income of $98,314 can be increased to $123,084, a 25% increase. This growth is supported by the absence of rent control in Oradell, the strength of the local rental market, the desirable transit-oriented location, the demographics of the municipality and its well maintained condition. Overall, 644 Oradell Avenue represents a rare opportunity to acquire a stable, income producing, multi-family property with significant upside potential in one of Northern New Jersey's premier suburban markets.