For Sale
$1,195,000

76 29Th St Bayonne, NJ 07002

Brand new, high-return investment opportunity

Overview

Added:
Dec 11, 2024
Days on market:
135
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.

Highlights

  • New construction duplex in Bayonne, NJ.
  • 4,000 square foot building on a 2,575 square foot lot, zoned R.
  • Two units, each with 1.5 parking spaces.
  • Asking price: $1,195,000 ($298.75/SF, $597,500/unit), 15.81% cap rate, $188,900 NOI.
  • Ready for occupancy August 9th, 2024; includes 5-year tax abatement and 10-year warranty, plus seller concessions.

Property Details for 76 29Th St

Property type
Residential income homes
Square Feet
4,000 SF
Class
A
Year Built/Renovated
2024/2024
Buildings
1
Stories
3
Units
2

Location Insight

City
Bayonne
County
Hudson
State
New Jersey
Latitude
40.6664462
Longitude
-74.1105323

FAQs

What type of property is this?
Residential income home - Brand new, high-return investment opportunity
Where is the residential income home located?
The property is located at 76 29Th St Bayonne, NJ.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: New construction duplex in Bayonne, NJ.; 4,000 square foot building on a 2,575 square foot lot, zoned R.; Two units, each with 1.5 parking spaces.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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76 29Th St
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