62 Stevens AveJersey City, NJ 07305

Property Details for 62 Stevens Ave

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional four-unit apartment building in Jersey City, New Jersey presents a compelling value-add investment opportunity. Located at 62 Stevens Ave, 07305, this Class B multifamily property boasts 100% occupancy and offers significant potential for increased rental income. The building comprises three two-bedroom units and one one-bedroom unit, with three of the apartments having undergone recent renovations. A large, unfinished basement provides additional space for future development or storage. Individual utility meters keep operating costs low, further enhancing profitability. The property benefits from low taxes and is conveniently situated near Kennedy Boulevard's transportation options, Bayside Park, and the Light Rail, making it highly attractive to tenants. There is currently a green card in place, and the absence of rent control ensures flexibility in managing rental rates. The asking price is $825,000, translating to $206,250 per unit. This presents a rare chance to acquire a well-located, income-generating property with substantial upside potential in a thriving Jersey City neighborhood. The property's strong occupancy and renovation history make it an ideal investment for both seasoned and emerging real estate investors seeking a stable and growing portfolio.

Location Insight

City

Jersey City

County

Hudson

State

New Jersey

Latitude

40.701

Longitude

-74.0868

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