747 Grand StJersey City, NJ 07304

Property Details for 747 Grand St

Year built

2017

Zone code

R-2

Property type

Other commercial real estate

APN

06 18704-0000-00016-0000-T01

APU

06187040000000160000T01

Description

This exceptional 36-unit apartment building, constructed in 2017, presents a compelling investment opportunity in Jersey City, NJ. Located at 747 Grand St, this five-story building boasts a desirable mix of one- and two-bedroom luxury units (78% are two-bedroom), each featuring modern amenities such as hardwood floors, in-unit laundry, and stainless steel appliances. The property includes 29 covered parking spaces, a stylish entrance foyer, and elevator access. With a current NOI of $814,295 and a pro-forma NOI of $960,664, the building offers a 5.71% cap rate and a pro-forma cap rate of 6.74%. The asking price is $14,250,000, translating to $395,833 per unit. Its prime location directly across from Arlington Park and a short 7-minute walk from the Garfield Light Rail Station provides convenient access to PATH stations, Liberty State Park, and major employers like Imperial Dade, Jersey City Medical Center, Lowe's, and The Home Depot. Nearby amenities include Berry Lane Park with its diverse recreational facilities. A 23-minute train ride to NYC adds to its appeal. This property offers a strong combination of location, modern amenities, and solid financial performance, making it an attractive investment.

Location Insight

City

Jersey City

County

Hudson

State

New Jersey

Latitude

40.715

Longitude

-74.0693

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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