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268 Forrest St 6 Unit Apartment Building $1,250,000 ($208,333/Unit) 5.64% Cap Rate Jersey City, NJ 07304
Investment Highlights
- Sunny, well laid out
- Tenants find very attractive
- Up and coming neighborhood
- Modern
- Near light rail and major bus lines
Executive Summary
6 Family located 1 1/2 blocks from MLK Light Rail station and shopping center, as well as numerous stores. Property sits on 50' x 100' lot and has a side yard suitable for potential parking area. Nicely laid out units with many windows and closets. All units 2BR/1Bath. All units have been upgraded and are attractive and well laid out. All units rent very easily.
Property Facts
| Price | $1,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $208,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.64% | Building Size | 4,500 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1901/1985 |
| Price | $1,250,000 |
| Price Per Unit | $208,333 |
| Sale Type | Investment |
| Cap Rate | 5.64% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1901/1985 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,950 | 700 |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-21301-0000-00029 | Improvements Assessment | $381,000 |
| Land Assessment | $244,000 | Total Assessment | $625,000 |
Property Taxes
Parcel Number
06-21301-0000-00029
Land Assessment
$244,000
Improvements Assessment
$381,000
Total Assessment
$625,000
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268 Forrest St