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Mcginley Square 229 Summit Ave 6 Unit Apartment Building $2,084,584 CAD ($347,431 CAD/Unit) 7% Cap Rate Jersey City, NJ 07304
Investment Highlights
- 19% Upside
- 9.11% Cash on Cash Return
- New Boilers & Heaters – 2024
- Average Rents $2,013, with Market Rents $2,400
- 5 Parking Spots
- All Separately Metered
Executive Summary
Broker of Record
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
Property Facts Under Contract
| Price | $2,084,584 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $347,431 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 7% | Building Size | 4,500 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1884 |
| Property Subtype | Apartment |
| Price | $2,084,584 CAD |
| Price Per Unit | $347,431 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 4,500 SF |
| No. Stories | 3 |
| Year Built | 1884 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 675 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-15104-0000-00001 | Improvements Assessment | $517,797 CAD |
| Land Assessment | $287,057 CAD | Total Assessment | $804,854 CAD |
Property Taxes
Parcel Number
06-15104-0000-00001
Land Assessment
$287,057 CAD
Improvements Assessment
$517,797 CAD
Total Assessment
$804,854 CAD
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Mcginley Square | 229 Summit Ave
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