10-Unit Apartment
For Sale
Contact for pricing
77 Sherman Avenue, Jersey City, NJ 07307
Multifamily property offering ten rental units within Jersey City’s established residential market.
Property Size5,700 SF
Price / SF$279.82
Days on Market60
Property Features for 77 Sherman Avenue
General Information
Standard status
Active
Size
5,700 SF
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$101,886
Additional Details
Gross Income
$162,036
Multifamily Units
10
Building Details
Year Built
1880
Year Renovated
2025
Buildings
1
Stories
3
Units
10
Tenancy
Multi
Listing Agency:
Prominent Properties Sotheby's International Realty
Listed By:
Amar Mody · License #1005004
(732) 208-8505
Source:
Crexi
Added: Aug 17
Changed: Oct 15
Last Checked: Oct 14 at 9:16PM
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 Prominent Properties Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This multifamily property at 77 Sherman Avenue contains 10 rental units within approximately 5,700 square feet. Built in 1880, the building provides an established apartment configuration with income generated across the full unit count.
The property is located in Jersey City, New Jersey, at 77-79 Sherman Avenue in the 07307 ZIP code. Current occupancy is described as consistent across all 10 units, with rental income distributed among the apartments.
The property is located in Jersey City, New Jersey, at 77-79 Sherman Avenue in the 07307 ZIP code. Current occupancy is described as consistent across all 10 units, with rental income distributed among the apartments.
Key Highlights
- 10‑unit multifamily property
- Approximately 5,700 square feet
- Built in 1880
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,038
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,320,760
$2.3M
Cap Rate 7%
$1,657,686
$1.7M
Cap Rate 9%
$1,289,311
$1.3M
Market Conditions
NOI Build-Up for 5,700 SF
Gross rent
$221.6K $38.88/SF
− Vacancy
−$10.6K −$1.87/SF
EGI
$211.0K $37.01/SF
− OpEx
−$94.9K −$16.66/SF
NOI
$116.0K $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 Rate 5%
$2,320,760
Cap Rate 7%
$1,657,686
Cap Rate 9%
$1,289,311
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.93M
NOI $116,038 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.85M
$1.62M – $2.16M
NOI $129,362 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
3,532
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property offering ten rental units within Jersey City’s established residential market.
Where is this apartment building located?
The property is located at 77 Sherman Avenue Jersey City, NJ.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 10‑unit multifamily property; Approximately 5,700 square feet; Built in 1880
