Byram apartment complex for sale

 

61 Byram Terrace

61 Byram Terrace

61 Byram Terrace, nine brand new units, $7.425 million (down from its 2012-2013 price of $7.995). They look very nice, and Byram Terrace is a good street, but can you make a reasonable return at $825 a unit at this end of town? My guess is that you probably could; they rented one unit for $5,450 per month this past July, but then again, if it were possible, would the developer be throwing in the towel and unloading them?

17 Comments

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17 responses to “Byram apartment complex for sale

  1. Anonymous

    it is a beautiful complex. forget the developer’s name, well known local guy though.

  2. Finkbeiner Answers

    Mandated site plan with two garage doors facing the street in a slot cut is brought to our community by the “preservation of neighborhood values” that our P&Z rules and regulations for story count and grade plane produce.

  3. Anonymous

    upside: walk to state line deli!

  4. Cos Cobber

    Its a beautiful collection of duplex homes…not sure how the next buyer exits any better….not without a firesale price at this point.

    • Anonymous

      Unless he buys it as a long term investment for the income stream. If he can take in $450K a year it might make sense.

  5. TheBox

    Ok, I let you have it for this in person before Chris – not everything west of Greenwich Ave is “Byram.” These town homes are in Pemberwick, despite the street name.

    The best part is there is one guy in a small, but immaculately maintained ranch that must have refused to sell and his house is surrounded by these units.

  6. TheBox

    PS – Elementary school is Hamilton Ave, not Glenville that could be off-putting to some.

  7. Col. DeBeers

    Might be interesting if you could get both sides for maybe 1.35 and convert it to a single or in law.

  8. TheBox in 'Byram'

    It destroys more than just the house…