Renovated Six-Unit Apartment
For Sale
Contact for pricing
Pending
282 BALDWIN AVE, Jersey City, NJ 07306
Brick three-story walk-up with six 2-bed, 2-bath units and in-unit washer/dryer.
Property Size4,000 SF
Days on Market61
Property Features for 282 BALDWIN AVE
General Information
Standard status
Pending
Size
4,000 SF
Class
A
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$125,758
Additional Details
Business Included
Yes
Multifamily Units
6
Building Details
Year Built
1870
Buildings
1
Stories
3
Units
6
Tenancy
Multi
Listing Agency:
EXP Realty
(866) 201-6210
Listed By:
Mordy Abelesz · License #NJ 1755145
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 9 at 9:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty
Investment Insights
Based on property information with market context.
This renovated brick three-story walk-up offers six spacious apartment homes, each configured as a 2-bedroom, 2-bath layout. The building includes in-unit washer and dryer for every unit, supporting tenant convenience and day-to-day usability.
Located at 282 Baldwin Ave in Jersey City’s JSQ neighborhood, the property is described as being just minutes from the Journal Square Transportation Center. That proximity is positioned for convenient regional access, with routes providing direct connectivity to Manhattan, Hoboken, and Downtown Jersey City, along with nearby shopping, dining, and everyday conveniences.
For buyers and operators seeking a multifamily asset with multiple residential units under one roof, this building’s consistent 2 bed/2 bath configuration and in-unit laundry amenities can simplify management and tenant planning. The straightforward walk-up style and the uniform unit mix may appeal to investors looking for a residential income-focused property in the Journal Square area.
Located at 282 Baldwin Ave in Jersey City’s JSQ neighborhood, the property is described as being just minutes from the Journal Square Transportation Center. That proximity is positioned for convenient regional access, with routes providing direct connectivity to Manhattan, Hoboken, and Downtown Jersey City, along with nearby shopping, dining, and everyday conveniences.
For buyers and operators seeking a multifamily asset with multiple residential units under one roof, this building’s consistent 2 bed/2 bath configuration and in-unit laundry amenities can simplify management and tenant planning. The straightforward walk-up style and the uniform unit mix may appeal to investors looking for a residential income-focused property in the Journal Square area.
Key Highlights
- Brick three‑story walk‑up built in 1870
- 6 apartments total: each unit offers 2 bedrooms and 2 bathrooms
- In‑unit washer and dryer in every apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$81,430
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,628,600
$1.6M
Cap Rate 7%
$1,163,286
$1.2M
Cap Rate 9%
$904,778
$904.8K
Market Conditions
NOI Build-Up for 4,000 SF
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.
Gross rent
$155.5K $38.88/SF
− Vacancy
−$7.5K −$1.87/SF
EGI
$148.1K $37.01/SF
− OpEx
−$66.6K −$16.66/SF
NOI
$81.4K $20.36/SF
Area
Jersey City, NJ
Vacancy
4.80%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,628,600
Cap Rate 7%
$1,163,286
Cap Rate 9%
$904,778
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,430 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.30M
$1.13M – $1.51M
NOI $90,780 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,487
Businesses Nearby
Explore this area
Business Placement
Demographics for 07306, NJ
55,342
Population
24,770
Households
2.2
Avg Household Size
34
Median Age
50%
College-Educated
87%
High-School Grad
3.0 sq mi
ZIP Area
18,447
Density / Sq Mi
$75,861
Median Household Income
$49,522
Median Earnings
$1,619
Median Rent
$502,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick three-story walk-up with six 2-bed, 2-bath units and in-unit washer/dryer.
Where is this apartment building located?
The property is located at 282 BALDWIN AVE Jersey City, NJ.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Brick three‑story walk‑up built in 1870; 6 apartments total: each unit offers 2 bedrooms and 2 bathrooms; In‑unit washer and dryer in every apartment
