INVESTMENT OFFERING
SAB Capital is pleased to present Cityside Apartments I&II, a family-designated apartment community in Trenton, NJ. The property includes 108, two-story apartment buildings. The property’s current mix includes 28 one bedroom, 86 two bedroom, 75 three bedroom, and 42 four bedroom apartments. Amenities include a laundry center, parking, and an elevator in the main building. The property features a Project-Based Section 8 contract that covers 100% of the units. The current contract rents are below the 2024 FMR’s and $1434-$1735 below the 2024 HUD 150% SAFMR.
- Cityside Apartments in Trenton, NJ | Capital City of New Jersey | Within 60 Miles of NYC and Philadelphia
- 100% Project-Based Section 8 Subsidy Contracts | 20 Year Extension Under Option 3b in 2012 (Fmr Mod Rehab Project)
- 71 of 108 Buildings are Located in Qualified Census Tract (QCT) | 30% Eligible Basis Boost for Federal LIHTC
- Trenton Apartment Occupancy at All-Time High (98.2%) | Benefitting From Population and Income Growth Driven By Record Low Local Unemployment (3%)
- Steady Local Population Growth | Trenton’s Population Grew by 5.6% Since 2010 (Census.gov)
- Strong Projected Growth | Oxford Economics Expects Population Growth in Trenton to Continue Estimating At Least 3,000 New Residents Quarterly Through Early 2025
| Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
|---|---|---|---|---|---|
| Cityside Apartments I&II | $ | % | 228,554 | Available |
