Sunnyside Village, a 30-unit multi-family property located at 216 North 4th Street in Vineland, N.J., has been sold by RCR Management to AMBR Capital for a sale price of $2,500,000. The property, owned by a family office for over 60 years, features 2 bedroom units spread across 2 floors. With a total area of 20,000 square feet, the price per square foot comes to $125. This transaction presents AMBR Capital with an opportunity to upgrade all units and bring the property to market rents.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $2,500,000
• Address: 216 North 4th Street, Vineland, N.J.
• Market: Vineland
• Units: 30
• Price per Unit: $83,333
• Square Footage: 20,000
• Price per Square Foot: $125

AMBR Capital, as the buyer, aims to capitalize on Vineland's recent gentrification and the property's strategic location. Situated less than a mile away from various national stores including Planet Fitness, Starbucks, Chick-fil-A, and Lidl, the property holds potential for increased value. The buyer's plan includes upgrading all 30 units and aligning rents with the market.