172 New York Ave Jersey City, NJ 07307
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 172 New York Ave
- Property type
- Apartment buildings
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jersey City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.0466
- Latitude
- 40.742
