PLAINFIELD, NJ  — MACRE Properties, a privately held real estate investment firm focused on value-add opportunities in class-B-and-C submarkets outside, 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—and reflects MACRE’s strategy of targeting undervalued cash-flowing assets with asymmetric upside.

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, access to major interstate highways, and a short distance to New Jersey’s shoreline, creating compelling fundamentals for long-term investors.

“This deal exemplifies our thesis-driven approach to sourcing value in overlooked markets” said Matthew Cianci, founder of MACRE Properties. “Through proactive engagement, local relationships, and a firm grasp of the submarket’s dynamics, we were able to structure favorable terms and develop a clear path to growth through minor upgrades and strategic rent repositioning.”

Investment Overview:

• Purchase Price: $950,000

• Unit Mix: 4 large 3-bedroom / 1-bath units (~1,100 SF each), with 8 parking spaces

• Going-in Cap Rate: 8.2%

The asset was acquired with long-term debt financing from Alpha Funding.

Strategic Location

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, combined with its active redevelopment plan, has fueled rent growth and increased investor attention in recent years.

The property itself 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, with upside in a lower-rate environment.

12-14 Sycamore Ave. is MACRE Properties 4^th deal and first of 2025. MACRE Is actively seeking off-market multifamily and mixed-use assets in the tri-state area (NY, NJ, CT) that present upside in rents. MACRE is well-positioned to acquire more sub-$5mm assets this year.