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35 Kensington Ave 31 Unit Apartment Building $7,892,437 CAD ($254,595 CAD/Unit) 6.41% Cap Rate Jersey City, NJ 07304
Investment Highlights
- Value-Add Opportunity: 31 Units, 34% Upside, 6.41% Cap Rate
- Tenants pay for cooking gas & electric; Landlord pay for water/sewer, common area electric, heat, & hot water
- Building Highlights: Brick Building, Renovated Units, Laundry in Basement, New Water Heater & Boiler Replaced in 2025, Separately Metered Units
- Convenient Transportation: The building is approximately a 2-minute walk to the JFK Blvd at Kensington Ave bus stop
Executive Summary
Patrick Forde
License # 122887, 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
(866) 889-0550
License # 122887, 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
(866) 889-0550
Property Facts
| Price | $7,892,437 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $254,595 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.41% | Building Size | 31,000 SF |
| No. Units | 31 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | ||
| Zoning | R-3 | ||
| Price | $7,892,437 CAD |
| Price Per Unit | $254,595 CAD |
| Sale Type | Investment |
| Cap Rate | 6.41% |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 31,000 SF |
| No. Stories | 5 |
| Year Built | 1929 |
| Zoning | R-3 |
Amenities
Unit Amenities
- Cable Ready
- Heating
- Kitchen
- Satellite TV
- Oven
- Range
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 31 | - | 1,000 |
Exceptionally walkable
100/100
Fairly drivable
40/100
Strong public transit
80/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 06-16603-0000-00013 | Improvements Assessment | $2,058,599 CAD |
| Land Assessment | $1,484,106 CAD | Total Assessment | $3,542,706 CAD |
Property Taxes
Parcel Number
06-16603-0000-00013
Land Assessment
$1,484,106 CAD
Improvements Assessment
$2,058,599 CAD
Total Assessment
$3,542,706 CAD
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35 Kensington Ave
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