206 Stegman St Jersey City, NJ 07305
- Apartment buildings
- 13,389 SF
Current Use by Public Records
- Apartment buildings
Property Details for 206 Stegman St
- Year built
- 2024
- Property size
- 13,389 SF
- Property type
- Apartment buildings
Description
Exceptional investment opportunity in Jersey City, NJ, presents a brand-new, five-story elevator apartment building completed in 2024. This 13,389 square foot property boasts 18 units, including 16 residential and 2 commercial units, all featuring two bedrooms. Four units offer private balconies, and all units include in-unit washer/dryers. The building enjoys a strong 5.89% cap rate and a substantial net operating income (NOI) of $356,562, with an asking price of $6,054,000 ($336,000 per unit). Tenants are responsible for heat, water/sewer, cooking gas, and electricity, minimizing landlord expenses (landlord only pays for common area electric). Conveniently located, the property is a short walk from public transportation providing easy access to Midtown Manhattan in approximately 55 minutes via bus and within 20 minutes to NYC via the Journal Square PATH station. This stabilized, 100% free-market property represents a compelling investment opportunity with significant potential for future growth. All units are two-bedroom apartments.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jersey City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0849
- Latitude
- 40.7055
