88 LEXINGTON AVE Jersey City, NJ 07304
MULTI_FAMILY - Jersey City, NJ
Property Features for 88 LEXINGTON AVE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 5
- Rooms
- Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 8, Bedroom 7, Bathroom 5, Bedroom 2, Bathroom 3, Basement, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 6
- Standard status
- Active
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8497
Building Details
- Year built
- 1906
- Architectural style
- Other, Colonial
Listing agent QIZHAN YAO License #0902217 (732) 727-2285
Listing office REALMART REALTY 27 BLEEKER ST, South Plainfield, NJ (732) 727-2280
Listing date Jun 5, 2026
Copyright © 2026 Realty MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The main living level is planned as a 4-bedroom, 2 full-bath configuration, and the second floor is planned to match with the same 4-bedroom, 2 full-bath layout. Each floor is approximately 1,350 square feet, and the basement runs the full footprint of the first floor. The design also allows flexibility to modify either floor to a larger 3-bedroom layout, depending on buyer preferences and final unit configuration.
Located on the west side of Jersey City, between Kennedy Blvd and West Side Ave, and a few blocks south of Communipaw Ave, the property offers a straightforward setup for an owner-operator or investor pursuing a ground-up interior renovation. With approved plans already in hand and key pre-rehab work underway, it may appeal to buyers looking for a phased path to deliver finished, rent-ready layouts on both floors, with the basement included in the overall reconfiguration.
Key Highlights
- 2‑family legal detached property in Jersey City built in 1906 (Colonial style).
- Approved architect plans from Jersey City for a complete gut rehab; project is shovel ready with work that can begin immediately.
- Each floor is approx. 1,350 SF with a 4‑bedroom/2 full bath layout; basement includes a duplex basement arrangement.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.0k | $38.88 |
| − Vacancy | −$5.0k | −$1.87 |
| EGI | $99.9k | $37.01 |
| − OpEx | −$45.0k | −$16.66 |
| NOI | $55.0k | $20.36 |
