65 Hopkins Ave Jersey City, NJ 07306

Property Details for 65 Hopkins Ave

Year built

1920

Property size

5,000 SF

Property type

Commercial real estate

Description

This exceptional value-add opportunity presents a six-unit apartment building situated on a 3,486 square-foot lot in Jersey City's Heights neighborhood. The three-story building, totaling approximately 5,000 square feet, was constructed in 1920 and is zoned R-1. Currently boasting 83% occupancy, the property offers a compelling mix of one 1-bedroom and five 2-bedroom units, all spacious enough for potential conversion to larger layouts. One unit is currently vacant and gutted, ready for immediate renovation and lease-up. The building includes a shared washer/dryer in the basement and partial sub-metering for utilities. Its prime location offers a significant advantage: a convenient 15-minute walk to the Journal Square PATH station, providing a quick 35-minute commute to Manhattan. This presents a strong opportunity for rental growth and increased profitability. The asking price is $1,300,000, translating to $260 per square foot. This property is an ideal investment for those seeking a value-add opportunity in a thriving Jersey City location with excellent access to Manhattan. The building's solid foundation and potential for upgrades make it a promising investment with significant upside.