MACRE Properties has completed the off-market acquisition of 12-14 Sycamore Avenue, a four-unit multifamily building located in the heart of Plainfield, New Jersey. The property was acquired for $950,000—or $237,500 per unit.

Positioned just six blocks from the NJ Transit Plainfield Station, the property sits within a transit-oriented growth corridor benefiting from the city's ongoing revitalization efforts. Plainfield has seen steady demand from middle-class families seeking affordability within commuting distance to New York City.

"This deal exemplifies our thesis-driven approach to sourcing value in overlooked markets. Through proactive engagement, local relationships, and a firm grasp of the submarket's dynamics, we were able to structure favorable terms."— Matthew Cianci, Founder of MACRE Properties

Property Features

The property benefits from a large surface lot (8 spaces), high-quality post-2010 renovations in most units, and immediate income enhancement potential through modest upgrades. Exit assumptions under a 7.5% cap rate imply a $1.3M valuation.

Market Fundamentals

Plainfield has become a target market for investors seeking a balance of affordability and growth. With over $425K in median home values and a 3.7% rental vacancy rate, the city's proximity to Manhattan has fueled rent growth and increased investor attention.