Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    172 New York Ave Jersey City, NJ 07307

    Sponsored
    For Sale
    $2,750,000

    High-end finishes, strong cash flow.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional Class A, fully renovated six-unit apartment building in Jersey City Heights presents a compelling investment opportunity. Located at 172 New York Avenue, this stabilized property boasts 3,935 square feet of net rentable space across three stories, situated on a 2,517 square foot lot. The building, renovated in 2022, offers a mix of spacious and stylish units: four two-bedroom, two-bathroom units and two two-bedroom, one-bathroom units. Each unit features modern, open-concept living spaces designed for comfortable living, with separate gas and electric utilities. Landlord responsibilities include water and sewer, minimizing operational burdens. The property enjoys a strong net operating income (NOI) of $166,900, resulting in an attractive 6.07% capitalization rate at an asking price of $2,750,000. Its prime location in Jersey City Heights offers easy access to local amenities, parks, and public transportation, including proximity to the Journal Square PATH station for convenient commutes to downtown Jersey City and Manhattan. This turnkey investment is ideal for both seasoned investors seeking a stable, high-performing asset and first-time buyers entering the multi-family market. Energy-efficient HVAC systems further enhance the property's appeal and operational efficiency.

    Property Features for 172 New York Ave

    General Information

    Property type
    Multifamily properties
    Class
    A

    Building Details

    Year Renovated
    2022
    Buildings
    1
    Stories
    3
    Units
    6

    HighLights

    • Prime Jersey City Heights location near shops, dining, parks, and public transportation, with easy PATH access to Manhattan.
    • Fully renovated, professionally managed multi‑family building offering a turnkey investment opportunity with minimal management requirements.
    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 Grocery Store

    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
    -74.046627782898
    Latitude
    40.741981855784

    Nearby Similar for Sale

    • $500,000
      1,955 SF

      Two-Family Home in Jersey City

      Two-family home near transportation in Jersey City's Greenville section.
      25 Dwight St, Jersey City, NJ 07305
      View Details
    • $600,000
      1,932 SF

      Updated Two-Family Home in Jersey

      Spacious, updated 2-family home in Jersey City's Greenville section.
      107 Bidwell Ave, Jersey City, NJ 07305
      View Details
    • $1,099,000

      New Construction Two Family Home

      Luxury two-family home in booming Greenville area of Jersey City.
      85 Myrtle Ave, Jersey City, NJ 07305
      View Details
    • $825,000

      Renovated 2-Family Home in Greenville

      Updated 2-family home with parking and convenient location.
      130 Wilkinson Ave, Jersey City, NJ 07305
      View Details
    • $749,000

      Mixed-Use Income Property in Greenville

      Income-generating mixed-use property with residential and commercial units in Greenville.
      32 Martin Luther King Jr Dr, Jersey City, NJ 07305
      View Details
    • $1,950,000

      Turnkey Investment Property in Heights

      Investment property in Jersey City's Heights neighborhood with parking.
      40 Beacon Ave, Jersey City, NJ 07306
      View Details
    • $1,199,000
      Pending

      Multi-Family in Paulus Hook

      Four-level multi-family near Hudson River promenade in Jersey City.
      237 Van Vorst St, Jersey City, NJ 07302
      View Details
    • $1,399,999

      Mixed-Use Property in JC Heights

      Multi-unit property with commercial space in a high-demand area.
      76 Bowers St, Jersey City, NJ 07307
      View Details
    • $1,399,999

      Mixed-Use Property in JC Heights

      Mixed-use property with residential and commercial spaces in vibrant neighborhood.
      76 Bowers St, Jersey City, NJ 07307
      View Details
    • New
      $649,999

      Two-Family Home in Bergen-Lafayette

      Two-family home near Light Rail in Jersey City.
      103 Virginia Ave, Jersey City, NJ 07304
      View Details
    • New
      $2,090,500

      Modern Duplex in Jersey City Heights

      Luxurious duplex with modern finishes, outdoor space, and garage parking.
      68 Thorne St, Jersey City, NJ 07307
      View Details
    • $875,000
      2,438 SF

      Modernized Multi-Family in West Bergen

      Modernized multi-family home in Jersey City's West Bergen neighborhood.
      244 Clinton Ave, Jersey City, NJ 07304
      View Details

    FAQs

    What type of property is this?
    Multifamily property - High-end finishes, strong cash flow.
    Where is this multifamily property located?
    The property is located at 172 New York Ave Jersey City, NJ.
    What is the asking price?
    The asking price for this property is $2,750,000.
    What are key features of this property?
    This property features: Prime Jersey City Heights location near shops, dining, parks, and public transportation, with easy PATH access to Manhattan.; Fully renovated, professionally managed multi-family building offering a turnkey investment opportunity with minimal management requirements.;
    Request Owner's contact information
    172 New York Ave Jersey City, NJ 07307
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    172 New York Ave
    Jersey City, NJ 07307
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    172 New York Ave Jersey City, NJ 07307
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.