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117 Grant Avenue 117 Grant Ave 6 Unit Apartment Building $1,450,000 ($241,667/Unit) 5.94% Cap Rate Jersey City, NJ 07305
Investment Highlights
- Convenient Infill Location
- Transit Oriented Location
- Strong Demographics
- Walkable Location
- Separately Metered Utilities
- Significant Population Growth
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 117 Grant Avenue in Jersey City, New Jersey (“the Property”). The Property is improved by a three-story building that contains six (6), 3-Bedroom/1-Bathroom residential units. The building is situated on a 0.06-acre parcel of land. The Property is strategically located along Martin Luther King Drive Jersey City’s Bergen-Lafayette neighborhood. 117 Grant Avenue is just a short walk from Martin Luther King Drive, Bergen Avenue and John F Kennedy Boulevard, three of the area’s primary corridors. The location offers convenient access to a multitude of retail, dining, entertainment and transportation amenities in both Jersey City and neighboring Bayonne. Jersey City is a suburb of New York City, located in the heart of Hudson County within the New York metropolitan area. The affluent and densely populated area is 3-miles west of New York City.
Property Facts
| Price | $1,450,000 | Building Class | C |
| Price Per Unit | $241,667 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 6,700 SF |
| Cap Rate | 5.94% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | $1,450,000 |
| Price Per Unit | $241,667 |
| Sale Type | Investment |
| Cap Rate | 5.94% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 6,700 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
1 1
Walk Score®
Very Walkable (85)
Transit Score®
Excellent Transit (74)
Property Taxes
| Parcel Number | 06-23102-0000-00012 | Improvements Assessment | $550,500 |
| Land Assessment | $210,000 | Total Assessment | $760,500 |
Property Taxes
Parcel Number
06-23102-0000-00012
Land Assessment
$210,000
Improvements Assessment
$550,500
Total Assessment
$760,500
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117 Grant Avenue | 117 Grant Ave
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