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    Jersey City Multi-Family Opportunity Title is generated by Realmo AI

    143 Terrace Ave, Jersey City, NJ 07307

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    For Sale
    $1,100,000

    3-Three Story, Multi-Family - Jersey City, NJ

    Lot size:
    0.14 Acres
    Added:
    May 5, 2026
    Days on Market:
    10
    Last Refresh:
    May 14 at 7:06 pm

    Property Features for 143 Terrace Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RES
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Kitchen, Laundry, Living Room
    Parking
    2
    Patio and Porch features
    Porch, Deck
    Interior features
    See Remarks
    Exterior features
    Deck, Open Porch(es)
    Basement Y/N
    1
    Appliances
    Dryer, Oven - Gas, Range, Refrigerator
    Standard status
    Active
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    14045

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1972
    Number of units
    3
    Building materials
    Aluminum Siding
    Roof type
    Asphalt, Flat, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    JIBI THOMAS

    Listing agent JIBI THOMAS

    Listing office REAL 165 PASSAIC AVE, Haddon Township, NJ

    Listing date May 5, 2026

    MLS# 4025473 Listing URL

    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.

    HighLights

    • Rare 3‑family property in the desirable Heights section of Jersey City
    • Highly valuable two‑car garage plus two additional parking spaces
    • Excellent location: close to NYC transportation, major highways, shopping, dining, and parks
    • Three separate units with individually metered utilities
    • Opportunity to increase income due to below‑market rents
    • Strong tenant demand and long‑term appreciation potential

    Overview

    Located in the Heights section of Jersey City, 143 Terrace Ave is a three-family property suitable for investors or owner-occupants. The building contains three separate units, each with individually metered utilities. There is potential to increase income by raising rents to market rates. The property includes a two-car garage and two additional parking spaces. Situated on a residential street, the property is near transportation to NYC, major highways, shopping, dining, and parks. This location benefits from tenant demand and long-term appreciation potential. The property is located in Hudson County, New Jersey, with a lot size of 0.14 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    NET 4 DEBT Financial Advisor

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jersey City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.05716
    Latitude
    40.7512

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    FAQs

    What type of property is this?
    Triplex - Three-family property in Jersey City's desirable Heights section.
    Where is this triplex located?
    The property is located at 143 Terrace Ave Jersey City, NJ.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Rare 3‑family property in the desirable Heights section of Jersey City; Highly valuable **two‑car garage plus two additional parking spaces**; Excellent location: close to NYC transportation, major highways, shopping, dining, and parks
    (855) 450-0442
    We can help!
    Listing Contact
    JIBI THOMAS
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    143 Terrace Ave, Jersey City, NJ 07307-4186
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