SoldDec 19, 2025

Listed by Raj Ryali

Bought with JUSTIN ROCKMAN from RE/MAX 1st ADVANTAGE

Source: Central Jersey MLS #2601905R

117 North 3rd Avenue, Highland Park, NJ, 08904

$1,350,000

4
4208 sq. ft.

Duplex

30+ days on the market

Sold: Dec 19, 2025

What's around 117 North 3rd Avenue

About this property

Welcome to your next cash-flowing asset in the heart of Highland Park! This fully leased 4-unit apartment building offers strong in-place income with upside potential perfect for a savvy investor or an owner-occupant looking to house hack. The property features a balanced mix of *two 2-bedroom/1-bath units* and *two 3-bedroom/1-bath units*, with one of the 3-bedroom units recently renovated and commanding $450 more in monthly rent than its unrenovated counterpart - offering a clear value-add pathway. $84,000 Net Operating Income. Offered at a 6.25% in-place CAP rate with Pro Forma to 7.25% with light renovations. All leases in place through July 2026. Recent upgrades include a full conversion to gas, a brand-new ultra-efficient gas boiler, and a new main waterline, offering peace of mind and reduced operating expenses for years to come. This property has enjoyed zero vacancy and consistent rental demand year after year. Its prime location near Rutgers University and New Brunswick makes it highly attractive to qualified tenants, including academics, graduate students, and medical professionals. Units rent quickly and easily with minimal turnover. Whether you're an investor seeking strong returns or an owner-occupant looking to offset your mortgage, this is a rare opportunity to own a fully leased, income-producing asset in a high-demand rental market. Schedule a showing today!

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