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327-329 Martin Luther King Jr Dr 6 Unit Apartment Building $1,486,188 CAD ($247,698 CAD/Unit) 6.42% Cap Rate Jersey City, NJ 07305
INVESTMENT HIGHLIGHTS
- Value-Add Opportunity: 6 Units | 35% Upside | 6.42% Cap Rate | $179K Price Per Unit
- Tenant pays for heat, hot water, cooking gas, & electric
- Two Blocks Away from the Light Rail
- 100% Free Market | 4 Residential Units | 2 Commercial Units | 3/4 Residential Units Renovated | Exposed Brick | All Two Bedrooms
- Landlord pays for water/sewer & common area electric
- The building is approximately a 5-minute walk to MLK Drive light rail stop which provides a total 35 minute trip to Manhattan via the PATH Train.
EXECUTIVE SUMMARY
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
52 Park Avenue, Suite B5, Park Ridge NJ 07656
(866) 889-0550
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
52 Park Avenue, Suite B5, Park Ridge NJ 07656
(866) 889-0550
PROPERTY FACTS
| Price | $1,486,188 CAD | Building Class | C |
| Price Per Unit | $247,698 CAD | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 5,400 SF |
| Cap Rate | 6.42% | No. Stories | 3 |
| No. Units | 6 | Year Built | 1912 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $1,486,188 CAD |
| Price Per Unit | $247,698 CAD |
| Sale Type | Investment |
| Cap Rate | 6.42% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,400 SF |
| No. Stories | 3 |
| Year Built | 1912 |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $2,247 CAD | 750 |
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Walk Score®
Very Walkable (87)
Transit Score®
Excellent Transit (74)
PROPERTY TAXES
| Parcel Number | 06-22503-0000-00043 | Improvements Assessment | $906,621 CAD |
| Land Assessment | $198,121 CAD | Total Assessment | $1,104,742 CAD |
PROPERTY TAXES
Parcel Number
06-22503-0000-00043
Land Assessment
$198,121 CAD
Improvements Assessment
$906,621 CAD
Total Assessment
$1,104,742 CAD
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327-329 Martin Luther King Jr Dr
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