76 29Th St Bayonne, NJ 07002
- Residential income homes
- 4,000 SF
Current Use by Public Records
- Residential income homes
Property Details for 76 29Th St
- Year built
- 2024
- Property size
- 4,000 SF
- Property type
- Residential income homes
Description
This exceptional Class A multifamily property, located at 76 E 29th St, Bayonne, NJ 07002, presents a compelling investment opportunity. Boasting 4,000 square feet across three stories, this newly constructed (2024) duplex offers two units, each with 1.5 parking spaces. The property sits on a 2,575 square foot lot and is zoned R. With a current asking price of $1,195,000 ($298.75 per square foot and $597,500 per unit), this investment yields a strong 15.81% cap rate and a substantial net operating income (NOI) of $188,900. Currently vacant, the property is ready for immediate occupancy beginning August 9th, 2024. Significant advantages include a 5-year tax abatement and a 10-year warranty, further enhancing its appeal. Seller concessions are also included in this turnkey investment. The property's prime location in Bayonne, Hudson County, within a popular short-term rental (STR) market, presents significant potential for high occupancy and strong rental income. This is a rare opportunity to acquire a brand-new, high-quality multifamily property with substantial upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bayonne
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.1105323
- Latitude
- 40.6664462
