11 King Street
Kearny, NJ 07032

Ideal investment opportunity, all brick 15-unit apartment building-no rent control, 12- 1 bedroom and 3-2 bedroom. Center of town location, convenient to transportation and shopping. Full occupancy, many long-term tenants. Gross yearly income approx. $222,100 a year (included is $700 per year laundry). Approx. yearly expenses: Tax $30,350, Insurance $8,450, Heat, Hot water and Common Area Electric $7,900, Water $1,900, Snow/Landscaping $1,800. Total approximate expense: $50,000 Approx. Net income Approx. 172,100. 6 cap! Numerous upgrades such as new furnace and stainless-steel chimney 2018, upgraded electric panels 2014, all smoke/carbon detectors replace 2020, renovations to numerous apartments, bathrooms, and kitchens. Roof recoated 2019. Gas heating system, 16 separate gas & electric meters. Recently State inspected May 2022.