191-195 Newark Ave Jersey City, NJ 07302

Property Details for 191-195 Newark Ave

Lot size

1.00 lot acres

Property size

1 SF

Property type

Apartment buildings

Description

This exceptional Class A multifamily investment property, located at 191-195 Newark Avenue in Jersey City, New Jersey (zip code 07302), presents a compelling opportunity. The four-story building sits on a one-acre lot (APN 12704) and boasts 13 units, a mix of nine residential and four commercial spaces. Currently fully rented, this property offers immediate cash flow with significant upside potential for rental income increases. Individual utility meters are in place for each unit, simplifying management. A majority of the residential units have undergone recent upgrades. The building's prime location in the pedestrian-friendly section of Downtown Jersey City places it just a block and a half from the Grove Street PATH train station, providing convenient access to Manhattan and other key transportation hubs. The corner location at Newark and Jersey Avenues offers excellent visibility and accessibility. The asking price is $6,750,000, representing a 5.50% cap rate. The building is approximately 153 years old. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving urban market. The strong tenant base and strategic location contribute to a robust investment profile with considerable long-term growth prospects.