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202 Hutton St 6 Unit Apartment Building $1,418,000 ($236,333/Unit) 6.65% Cap Rate Jersey City, NJ 07307
Investment Highlights
- 6-unit value-add multifamily in The Heights, Jersey City with 6.65% cap rate.
- Tenants pay heat, cooking gas, and electric; landlord pays water/sewer only.
- Strong in-place NOI of $94,296 and attractive price per SF of $315.
- 17% upside in rents with all two-bedroom renovated units and separate meters.
- Prime location just 6 minutes to bus stop with 28-minute ride to Midtown Manhattan.
- All units are two-bedroom layouts, appealing to a wide tenant base.
Executive Summary
Broker of Record
Patrick Forde
License # 2330333, 122887 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Ste. 440, Teaneck, NJ 07666
(866) 889-0550
Patrick Forde
License # 2330333, 122887 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Ste. 440, Teaneck, NJ 07666
(866) 889-0550
Property Facts
| Price | $1,418,000 | Apartment Style | Low-Rise |
| Price Per Unit | $236,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.65% | Building Size | 4,500 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 0.89/1,000 SF |
| Zoning | R-2, Jersey City | ||
| Price | $1,418,000 |
| Price Per Unit | $236,333 |
| Sale Type | Investment |
| Cap Rate | 6.65% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,500 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Parking Ratio | 0.89/1,000 SF |
| Zoning | R-2, Jersey City |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-03601-0000-00068 | Improvements Assessment | $852,200 |
| Land Assessment | $270,000 | Total Assessment | $1,122,200 |
Property Taxes
Parcel Number
06-03601-0000-00068
Land Assessment
$270,000
Improvements Assessment
$852,200
Total Assessment
$1,122,200
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202 Hutton St
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