For Sale
$6,750,000

191-195 Newark AveJersey City, NJ 07302

13-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Class A multifamily investment property, located at 191-195 Newark Avenue in Jersey City, New Jersey (zip code 07302), presents a compelling opportunity. The four-story building sits on a one-acre lot (APN 12704) and boasts 13 units, a mix of nine residential and four commercial spaces. Currently fully rented, this property offers immediate cash flow with significant upside potential for rental income increases. Individual utility meters are in place for each unit, simplifying management. A majority of the residential units have undergone recent upgrades. The building's prime location in the pedestrian-friendly section of Downtown Jersey City places it just a block and a half from the Grove Street PATH train station, providing convenient access to Manhattan and other key transportation hubs. The corner location at Newark and Jersey Avenues offers excellent visibility and accessibility. The asking price is $6,750,000, representing a 5.50% cap rate. The building is approximately 153 years old. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving urban market. The strong tenant base and strategic location contribute to a robust investment profile with considerable long-term growth prospects.

Highlights

  • Class A multifamily investment property in Jersey City, NJ (07302).
  • Four-story building on a one-acre lot (APN 12704) with 13 units (9 residential, 4 commercial).
  • Fully rented, offering immediate cash flow and upside potential.
  • Individual utility meters and recent upgrades to most residential units.
  • Prime location, one and a half blocks from Grove Street PATH station, offering excellent visibility and accessibility.
  • Asking price: $6,750,000, 5.50% cap rate.

Property Details for 191-195 Newark Ave

Property type
Apartment buildings
Square Feet
1 SF
Class
A
Stories
4
Lot Size (sq. ft)
43,560 SF
Units
13

Location Insight

City
Jersey City
County
Hudson
State
New Jersey
Latitude
40.7213248
Longitude
-74.045795
191-195 Newark Ave, Jersey City, New Jersey

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191-195 Newark Ave
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