Search Results

April 17, 2019  

NJ Rentals Have Renovation Potential

PGIM Real Estate is marketing a Northern New Jersey apartment complex that’s expected to fetch about $110 million.The 217-unit property, in Morristown, is 97% occupied. The sales pitch is emphasizing the potential to renovate and boost rents. At the estimated value of $507,000/unit, a buyer’s initial annual yield would be 4.6%. Cushman & Wakefield has the listing.The six-story building is at 10 Lafayette Avenue, adjacent to a train...

This article is free to subscribers of Real Estate Alert. If you are a subscriber, please sign in.

If you are not a subscriber, please complete the form below to purchase the article for $19.95.
First Name *
Last Name *
E-mail *
Card Number *
Expiration *
Card Code *
Address *
City *
State/Province *
Zip/Postal Code *

Purchase Article