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590 Bergen Ave 26 Unit Apartment Building $7,492,198 CAD ($288,161 CAD/Unit) 6.55% Cap Rate Jersey City, NJ 07304
Investment Highlights
- Value-Add Opportunity: 26 Units, 28% Upside, 6.55% Cap Rate
- Tenants pay for heat, cooking gas & electric; Landlord pay for water/sewer, common area electric, heat, & hot water
- Building Highlights: Brick Building, 14 Parking Spots, Renovated Units, Laundry in Basement
- Convenient Transportation: The building is approximately a 5-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 | $7,492,198 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $288,161 CAD | Building Class | C |
| Sale Type | Investment | Building Size | 16,750 SF |
| Cap Rate | 6.55% | No. Stories | 3 |
| No. Units | 26 | Year Built | 1966 |
| Property Type | Multifamily | Parking Ratio | 0.84/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $7,492,198 CAD |
| Price Per Unit | $288,161 CAD |
| Sale Type | Investment |
| Cap Rate | 6.55% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 16,750 SF |
| No. Stories | 3 |
| Year Built | 1966 |
| Parking Ratio | 0.84/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Strong public transit
80/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 06-16701-0000-00003 | Improvements Assessment | $2,254,375 CAD |
| Land Assessment | $1,239,566 CAD | Total Assessment | $3,493,940 CAD |
Property Taxes
Parcel Number
06-16701-0000-00003
Land Assessment
$1,239,566 CAD
Improvements Assessment
$2,254,375 CAD
Total Assessment
$3,493,940 CAD
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590 Bergen Ave
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