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2808-2820 John F Kennedy Blvd 36 Unit Apartment Building For Sale Jersey City, NJ 07306
INVESTMENT HIGHLIGHTS
- Two-minute walk to Journal Square Path Station which provides direct train service to Manhattan, Downtown Jersey City and Hoboken
- Located in the middle of the thriving Journal Square neighborhood
- Remarkable Walk Score of 98
- Mixed-use building consisting of apartments and street-level retail
EXECUTIVE SUMMARY
CBRE, Inc. has been retained as the exclusive advisor for the sale of 2808-2822 Kennedy Boulevard (“Property”), a value-add mixed use building surrounded by Journal Squared and The Journal consisting of multiple 50+ story new luxury apartment buildings and located in the thriving Journal Square neighborhood of Jersey City, NJ. The Property is ideally positioned within a one block walk from the Journal Square PATH station which provides direct train service to Manhattan (17± minutes), Downtown Jersey City (7± minutes), and Hoboken (13± minutes).
The Property features 14 one-bedroom apartments, 18 two-bedroom apartments, 4 three-bedroom apartments, as well as 8,016± square feet of retail space (100% leased). 2808-2822 Kennedy Boulevard has been well maintained and is a prime candidate for a strategic value-add improvement program aimed at improving existing unit finishes. Renovating the units upon turnover will allow an investor to push in-place rents nearly 51%, or $768/month, on average.
The Property features 14 one-bedroom apartments, 18 two-bedroom apartments, 4 three-bedroom apartments, as well as 8,016± square feet of retail space (100% leased). 2808-2822 Kennedy Boulevard has been well maintained and is a prime candidate for a strategic value-add improvement program aimed at improving existing unit finishes. Renovating the units upon turnover will allow an investor to push in-place rents nearly 51%, or $768/month, on average.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.07 AC |
| No. Units | 36 | Building Size | 34,270 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1937 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | C-1 - Commercial | ||
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 34,270 SF |
| No. Stories | 5 |
| Year Built | 1937 |
| Opportunity Zone |
Yes |
| Zoning | C-1 - Commercial |
AMENITIES
UNIT AMENITIES
- Heating
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
| 2+1 | 18 | - | - |
| 3+1 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Excellent Transit (81)
PROPERTY TAXES
| Parcel Number | 06-10602-0000-00001 | Improvements Assessment | $8,621,991 CAD |
| Land Assessment | $821,592 CAD | Total Assessment | $9,443,583 CAD |
PROPERTY TAXES
Parcel Number
06-10602-0000-00001
Land Assessment
$821,592 CAD
Improvements Assessment
$8,621,991 CAD
Total Assessment
$9,443,583 CAD
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2808-2820 John F Kennedy Blvd
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