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Listed by Fred Sokolich Sokolich Real Estate
$ 2,000,000
Est. payment | /mo
$ 2,000,000
Est. payment | /mo
Key Details
Property Type Vacant Land
Sub Type Residntl
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26029744
Property Sub-Type Residntl
Property Description
**FULLY APPROVED & ACTIVE MULTIFAMILY DEVELOPMENT SITE** 823 Anderson Avenue presents a rare opportunity to acquire a fully approved and active multifamily redevelopment site in one of Bergen County’s strongest rental markets. The offering includes an existing income-producing two-family residence together with active Planning Board approvals for the construction of a six-unit multifamily residential development. The approved project consists of six 2-bedroom, 2-bathroom residential units, including one affordable housing unit, within an attractive three-story building featuring integrated garage parking with projected market rents of approximately $4,500/month for market-rate units (affordable allowable rent approx. $2,800/month). Situated on an oversized 7,606 SF corner lot with approximately 89 feet of frontage, the property offers a rare combination of: • Active development approvals • Strong projected rental income (Projected gross annual income approximately $303,600) • Existing cash flow during pre-construction planning • Significant parking capacity • Prime NYC commuter location Documentation Included with the Sale: • Fully Approved Borough Planning Board Resolution • Architectural Plans • Site Plans • Property Survey Seller is a licensed NJ Real Estate Broker. For more information, contact listing agent at 201-664-4444.
Location
State NJ
County Bergen
Nearby Locations
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Armando Pina
International Realtor & CEO of The Pina Group | License ID: 2191407