Peoples capital group presents a 78-unit, heavy value-add multifamily community built in 1935 and located in Bergen County New Jersey — one of New Jersey’s most desirable and supply-constrained submarkets. Known for its top-rated school district and strong demographics, Hackensack offers exceptional rent growth potential with minimal new supply on the horizon.
This property has current rents approximately 50% below market value offering significant value add opportunity through improved management and renovations. Peoples capital group plans to create immediate upside by renovating units upon turnover, installing washer/dryers in the units and leasing units for fair market value.
This asset benefits from strong tenant demand, a significant rent-to-own delta, and a high-occupancy track record. With significant upside potential, unbeatable location via proximity to the #1 rated hospital in NJ and local Hackensack highschool, this value add investment opportunity is poised to create outsized returns to participating investors.