Two-Unit Duplex with Renovation
124 Nelson Ave, Jersey City, NJ 07307
For Sale
$750,000
Multi-Family, 2-Two Story, Jersey City, NJ
Property Size2,120 SF
Lot Size0.06 Acres
Price / SF$353.77
Days on Market51
Property Features for 124 Nelson Ave
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Directions
Standard status
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Water source
Building Details
Floors in Building
Number of units
Roof type
Architectural style
Buildings
Listing Agency:
RE/MAX COMPETITIVE EDGE · RE/MAX International
(732) 548-5555
Listed By:
NAMITA MANGLIK · License NJ #1536989
(908) 791-1010
Added: Sep 25
Changed: Nov 6
Last Checked: Nov 14 at 12:06AM
MLS# 4055199
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This duplex contains two residential units within approximately 2,120 square feet of existing building area. The property is being sold as-is and needs significant renovation. Its lot measures approximately 25 by 107 feet, or 0.06 acres. Public water and public sewer serve the property, and the roof is shingle. Redevelopment or new construction may be explored, subject to zoning review and municipal approvals.
Central Avenue’s shopping and dining, nearby parks, public transportation, and connections to Hoboken, Journal Square, and New York City are identified in the surrounding area.
Central Avenue’s shopping and dining, nearby parks, public transportation, and connections to Hoboken, Journal Square, and New York City are identified in the surrounding area.
Key Highlights
- Two separate residential units
- Approximately 2,120 square feet of existing building area
- Approximately 25' x 107' lot; 0.06 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,114
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$962,280
$962.3K
Cap Rate 7%
$687,343
$687.3K
Cap Rate 9%
$534,600
$534.6K
Market Conditions
NOI Build-Up for 2,120 SF
Gross rent
$72.5K $34.20/SF
− Vacancy
−$3.8K −$1.78/SF
EGI
$68.7K $32.42/SF
− OpEx
−$20.6K −$9.73/SF
NOI
$48.1K $22.70/SF
Area
Jersey City, NJ
Vacancy
5.20%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$962,280
Cap Rate 7%
$687,343
Cap Rate 9%
$534,600
Alternative Uses
Best Use
Multifamily LT 5
$687.3K
$601.4K – $801.9K
NOI $48,114 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$616.5K
$539.5K – $719.3K
NOI $43,158 @ 7.0% cap · market cap 5.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,325
Businesses Nearby
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Business Placement
Demographics for 07307, NJ
44,247
Population
18,762
Households
2.4
Avg Household Size
35
Median Age
46%
College-Educated
87%
High-School Grad
1.9 sq mi
ZIP Area
23,288
Density / Sq Mi
$80,745
Median Household Income
$52,729
Median Earnings
$1,708
Median Rent
$574,000
Median Home Value
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Market
Properties on Market for Duplexes in Jersey City
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two-residence property is offered in as-is condition and requires substantial renovation.
Where is this duplex located?
The property is located at 124 Nelson Ave Jersey City, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two separate residential units; Approximately 2,120 square feet of existing building area; Approximately 25' x 107' lot; 0.06 acres
