76 29Th St, Bayonne, NJ 07002

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.