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151 SIP Ave 42 Unit Apartment Building For Sale Jersey City, NJ 07306
INVESTMENT HIGHLIGHTS
- Less than 1 City Block to JSQ Path
- Very well maintained
- Great Unit Mix
EXECUTIVE SUMMARY
A supremely located Tudor Revival masterpiece, less than one city block from the Journal Square Path Stop, 151 Sip Avenue, Jersey City is a once in a generation asset. This 42-unit apartment home offers its residents 10-minute one seat transportation to Manhattan. Meticulously taken care of by same ownership for 24 years, this is the perfect asset to capitalize on the explosive growth of Journal Square. The building contains (31) 1 bed, (10) 2 beds and (1) studio. Each unit has heat, air conditioning and dishwasher. There is a common laundry in the basement. The lobby and some hallways are ensconced in the original white marble from its early 1920s construction. With minimal capex, historically low vacancy and under market rents the new owner will be well positioned to earn a strong risk adjusted return in the heart of the Journal Square Renaissance.
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PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.17 AC |
| No. Units | 42 | Building Size | 35,000 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built | 1920 |
| Building Class | B | Opportunity Zone |
Yes
|
| Zoning | Zone 6 - Zone 6 | ||
| Sale Type | Investment |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 35,000 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
| Zoning | Zone 6 - Zone 6 |
AMENITIES
UNIT AMENITIES
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- PATH
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 1 |
| 1+1 | 31 | - | 1 |
| 2+1 | 10 | - | 1 |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Excellent Transit (81)
PROPERTY TAXES
| Parcel Number | 06-12103-0000-00010 | Improvements Assessment | $4,781,100 |
| Land Assessment | $2,420,000 | Total Assessment | $7,201,100 |
PROPERTY TAXES
Parcel Number
06-12103-0000-00010
Land Assessment
$2,420,000
Improvements Assessment
$4,781,100
Total Assessment
$7,201,100
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151 SIP Ave
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