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130-132 Griffith St 6 Unit Apartment Building $2,999,173 CAD ($499,862 CAD/Unit) 4.93% Cap Rate Jersey City, NJ 07307
INVESTMENT HIGHLIGHTS
- Minutes to Hoboken, Downtown Jersey City
- Major upside potential
- Proximity to transporation to NYC
EXECUTIVE SUMMARY
Rare opportunity featuring 2 side by side 3-family buildings comprised of a corner lot and adjacent building on a combined 40’ x 77’ lot in the heart of Jersey City Heights, one of the area’s most desirable and rapidly appreciating neighborhoods. Apartments are all 2 bed/1bath. Building also offers 2 car parking adding additional income.***No Rent Control – $140,376 -Current Gross ***$222,000- Potential Gross. Investors may choose to reposition the asset and capture upside through lease turnover and targeted CapEx. With a projected 6.38% cap rate achievable through renovation and rent growth, the property offers both immediate income and long-term appreciation, all in a thriving location just minutes from Hoboken, Downtown Jersey City, Weehawken, and New York City. Contact for detailed income and expenses AND pricing on the complete three-building package.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$193,569
|
$27.08
|
| Other Income |
$3,309
|
$0.46
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$196,878
|
$27.54
|
| Taxes |
$35,163
|
$4.92
|
| Operating Expenses |
$26,889
|
$3.76
|
| Total Expenses |
$62,052
|
$8.68
|
| Net Operating Income |
$134,826
|
$18.86
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $193,569 |
| Annual Per SF | $27.08 |
| Other Income (CAD) | |
|---|---|
| Annual | $3,309 |
| Annual Per SF | $0.46 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $196,878 |
| Annual Per SF | $27.54 |
| Taxes (CAD) | |
|---|---|
| Annual | $35,163 |
| Annual Per SF | $4.92 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $26,889 |
| Annual Per SF | $3.76 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $62,052 |
| Annual Per SF | $8.68 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $134,826 |
| Annual Per SF | $18.86 |
PROPERTY FACTS
| Price | $2,999,173 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $499,862 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 4.93% | Building Size | 7,149 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | Residential - Residential | ||
| Price | $2,999,173 CAD |
| Price Per Unit | $499,862 CAD |
| Sale Type | Investment |
| Cap Rate | 4.93% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 7,149 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1910 |
| Zoning | Residential - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Storage Space
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (75)
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130-132 Griffith St
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