Description

Exceptional investment opportunity in the highly desirable Jersey City Heights section. This 8-unit multifamily property offers immediate cash flow with substantial upside through the renovation and repositioning of under-market units. Current gross rental income is approximately $169,700 annually, with the potential to increase to over $225,900 annually after renovating Units 2, 5, and 7. At an offering price of $2,700,000, the property is operating at an estimated 4.79% cap rate with the potential to achieve an estimated 6.87% pro forma cap rate. Investors will appreciate the strong rental demand, proximity to transportation, shopping, dining, and continued growth throughout Jersey City Heights.Property is being sold as-is. Buyer to perform their own due diligence regarding income, expenses, rents, permits, and future projections.

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Property information

Property type

Commercial Sale

Annual taxes

$23,230

Days on market

156

Stories

3