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Susan Maryanski

Operator | Opulent Living | Keller Williams City Life

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59 Railroad Ave , Washington Boro, NJ 07882
$1,319,000
Est. Payment: $7,198.32/mo
3 Bath
5141 Sqft
0.24 Acres
Status: active | Days on site: 76
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3298 - 401849
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Susan Maryanski
Operator

House Description

Value-add 6-unit multifamily with a clear, validated path to continue growing NOI while delivering the immediate cash flow and stability of a core-plus investment at a 7.27% cap rate on current financials. Since listing in August, storage lease-up and lease renewals have lifted NOI from about $93,000 to $95,900 (7.05% to 7.27% cap rate at the same price, despite higher expenses) at 100% occupancy. The property generates more than $135,000 in annual gross income from 6 apartments, 3 garages and 5 storage units in a detached building, all leased. Current apartment and ancillary rents remain below market, providing approximately $8,880 of additional annual income before any further unit renovations. Additional upside remains through completion of a renovation program already executed within the same property and 7 new storage units in unused basement space. Ownership has invested over $225,000 in capital improvements since 2023, completing renovations across 4 units while addressing major capex items and deferred maintenance throughout. The remaining scope is limited to 2 partially updated units, giving buyers a clearly defined renovation strategy proven by higher achieved rents on site. Environmental items have been proactively addressed, rigorous screening has produced a stable tenant base, and established management systems support an efficient transition. Located about 60 minutes from NYC with convenient access to Routes 57, 31 and I-78, within walking distance of downtown.

Highlights

Listed by MARK GUTIERREZ , MP NJ REALTY SYSTEMS LLC. , 800-455-2059. Garden State MLS

Property Type

Commercial Sale

Lot/Acreage
0.24

Year Built

1925

County

Warren

Listing ID

4043878

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bathrooms:3
  • ▪ 1/2 Bathrooms:6
Air Cond:Window A/C(s)
Fireplaces:
Floor:Carpeting,Tile,Vinyl-Linoleum,Wood
Basement:French Drain,Full,Slab,Unfinished
Water:Public Water

Exterior Features

Lot:Corner,Level Lot
Lot Dimensions:50X210
Garage Capacity:11
Zoning:R3
Roof:Asphalt Shingle, Rubberized
Others:
  • ▪ Additional:Vinyl Siding
Sewer:Public Sewer
Parking Features:Assigned,Off-Street Parking,Parking Lot-Exclusive
Principal Interest
$7,198
Taxes
$1,665

Home Price

$1,319,000

Loan Details

30 yrs
7.25%

Down Payment

20%
$263,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$7,198.32

Principal

Taxes

Principal Taxes HOA Total
Monthly $7,198.32 $1,665.33 $0.00 $8,863.66
Yearly $86,379.89 $19,984.00 $0.00 $106,363.89
Total $2,591,396.68 $599,520.00 $0.00 $3,190,916.68

Today's Rates

30 Year

7.25%

20 Year

7.06%

15 Year

6.58%

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Market insight data is pulled from the same city as the listing being viewed (Washington Boro, NJ).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Garden State MLS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-10-23T03:03:50.000Z

© 2026 Garden State MLS