Brick 6-Unit Apartment
For Sale
$1,500,000
9 Rutgers Ave, Jersey City, NJ 07305
Six-unit brick building with a mix of two- and three-bedroom apartments near public transportation and neighborhood amenities.
Property Size4,800 SF
Price / SF$312.50
Days on Market8
Property Features for 9 Rutgers Ave
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$17,862
Amenities
Central air
On-Street Parking
Radiators - Hot Water Heating
Rubberized Roof
Wall A/C Unit(s) Cooling
Building Details
Year Built
1930
Construction
Brick
Listing Agency:
TWRG REALTY GROUP
(908) 355-1717
Listed By:
MOSHE WIGDER
Source:
Corcoran
Added: Aug 14
Changed: Aug 20
Last Checked: Aug 21 at 8:04AM
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 TWRG REALTY GROUP
Investment Insights
Based on property information with market context.
Built in 1930, this brick apartment property contains six units with a combination of two- and three-bedroom layouts across approximately 4,800 square feet. The configuration offers a defined multifamily asset with varied residential floor plans.
The property is located in Jersey City's Greenville section near shops, restaurants, schools, places of worship, and public transportation. NJ Transit bus service and Light Rail are nearby, providing access toward New York City.
The property is located in Jersey City's Greenville section near shops, restaurants, schools, places of worship, and public transportation. NJ Transit bus service and Light Rail are nearby, providing access toward New York City.
Key Highlights
- Six‑unit brick apartment building
- Mix of 2- and 3‑bedroom units
- Approximately 4,800 square feet
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
$97,716
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
6.51%
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%
$1,954,320
$2.0M
Cap Rate 7%
$1,395,943
$1.4M
Cap Rate 9%
$1,085,733
$1.1M
Market Conditions
NOI Build-Up for 4,800 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
$186.6K $38.88/SF
− Vacancy
−$9.0K −$1.87/SF
EGI
$177.7K $37.01/SF
− OpEx
−$79.9K −$16.66/SF
NOI
$97.7K $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%
$1,954,320
Cap Rate 7%
$1,395,943
Cap Rate 9%
$1,085,733
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,716 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.56M
$1.36M – $1.82M
NOI $108,937 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,472
Businesses Nearby
Explore this area
Business Placement
Demographics for 07305, NJ
67,947
Population
28,297
Households
2.4
Avg Household Size
36
Median Age
35%
College-Educated
88%
High-School Grad
5.7 sq mi
ZIP Area
11,921
Density / Sq Mi
$77,126
Median Household Income
$47,822
Median Earnings
$1,610
Median Rent
$418,200
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 - Six-unit brick building with a mix of two- and three-bedroom apartments near public transportation and neighborhood amenities.
Where is this apartment building located?
The property is located at 9 Rutgers Ave Jersey City, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Six‑unit brick apartment building; Mix of 2- and 3‑bedroom units; Approximately 4,800 square feet
