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    152 Boyd Ave Jersey City, NJ 07304

    Sponsored
    For Sale
    $1,775,000

    Stylish renovated 6-unit building, high NOI.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional investment opportunity presents a fully renovated six-unit apartment building situated in a desirable Jersey City location. The property boasts a compelling combination of strong current performance and significant upside potential. The building, constructed over three stories, comprises six units, including two spacious duplex units and two unique mezzanine-style units. All units feature modern amenities such as hardwood floors, granite countertops, and central air conditioning. The building sits on a 3,100 square foot lot and underwent a complete renovation in 2019, resulting in impressive common areas and modern staircases. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $94,005, representing a 5.30% capitalization rate. However, a pro-forma analysis projects a significantly higher NOI of $130,691, translating to a 7.36% capitalization rate, showcasing the substantial value-add potential. Each unit is individually metered for utilities, with tenants responsible for their respective expenses. The property's prime location offers convenient access to major roadways, including Route 440, US-1, and US-9 Truck, as well as public transportation via the nearby light rail. Its proximity to shopping, dining, and other amenities further enhances its appeal. This is a rare opportunity to acquire a high-performing multifamily asset in a thriving Jersey City neighborhood. The asking price is $1,775,000, with a price per unit of $295,833.33.

    Property Features for 152 Boyd Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Renovated
    2019
    Buildings
    1
    Stories
    3
    Units
    6

    HighLights

    • Completely renovated.
    • Spacious apartment units.
    • Two duplex units available.
    • Two units feature mezzanine levels.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    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
    -74.0857978
    Latitude
    40.7181118

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    FAQs

    What type of property is this?
    Multifamily property - Stylish renovated 6-unit building, high NOI.
    Where is this multifamily property located?
    The property is located at 152 Boyd Ave Jersey City, NJ.
    What is the asking price?
    The asking price for this property is $1,775,000.
    What are key features of this property?
    This property features: Completely renovated.; Spacious apartment units.; Two duplex units available.
    Request Owner's contact information
    152 Boyd Ave Jersey City, NJ 07304
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    Realmo Value Estimation

    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.

    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.

    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
    152 Boyd Ave Jersey City, NJ 07304
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