Six-Unit Apartment
For Sale
$2,300,000
Sanford Pl, Jersey City, NJ 07307
Well-maintained six-unit multifamily property with income-producing residential units.
Property Size3,656 SF
Price / SF$629.10
Days on Market121
Property Features for Sanford Pl
General Information
Standard status
Active
Size
3,656 SF
Property subtype
Apartment
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$33,498
Amenities
Central Air
3
Flat, Rubber
38.36X90X32X69, 38.36X90X32X69
Building Details
Year Built
1910
Listing Agency:
PRO REALTY LLC.
(973) 826-9733
Listed By:
CLAUDIA MOLINA
Source:
Xome
Added: May 3
Changed: Aug 25
Last Checked: Aug 30 at 3:29PM
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 PRO REALTY LLC.
Investment Insights
Based on property information with market context.
This well-maintained six-unit apartment building offers a straightforward residential income configuration for an owner-operator or investor. The property’s multifamily setup consists of six separate units within the existing improvements.
The building is located at 9 Sanford Pl in Jersey City, NJ 07307.
At a reported 3,656 square feet, the property provides a compact footprint for a portfolio addition or a focused small multifamily strategy.
The building is located at 9 Sanford Pl in Jersey City, NJ 07307.
At a reported 3,656 square feet, the property provides a compact footprint for a portfolio addition or a focused small multifamily strategy.
Key Highlights
- 6‑unit multifamily property with income‑producing residential units
- Well‑maintained building
- Built in 1910
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
$74,427
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
3.24%
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%
$1,488,540
$1.5M
Cap Rate 7%
$1,063,243
$1.1M
Cap Rate 9%
$826,967
$827.0K
Market Conditions
NOI Build-Up for 3,656 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
$142.1K $38.88/SF
− Vacancy
−$6.8K −$1.87/SF
EGI
$135.3K $37.01/SF
− OpEx
−$60.9K −$16.66/SF
NOI
$74.4K $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%
$1,488,540
Cap Rate 7%
$1,063,243
Cap Rate 9%
$826,967
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$930.3K – $1.24M
NOI $74,427 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.19M
$1.04M – $1.38M
NOI $82,973 @ 7.0% cap · market cap 3.61%
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
3,006
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
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 - Well-maintained six-unit multifamily property with income-producing residential units.
Where is this apartment building located?
The property is located at Sanford Pl Jersey City, NJ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 6‑unit multifamily property with income‑producing residential units; Well‑maintained building; Built in 1910
