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65 Hopkins Ave
Jersey City, NJ 07306
Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- Multiple Vacancies at Closing
- Walking Distance to Path Train
- Same owned since 1999
EXECUTIVE SUMMARY
Brand new residential opportunity for sale on the border of the The Heights and Journal Square, steps from Christ Hospital and short walk
to Journal Square Path Station. 65 Hopkins Ave has been owned by the same family for over 25 years and has received meticulous care in
regards to management, maintenance, legal rent increases (VCI) and in renovations. The unit mix features four two bedroom and two three
bedroom units all of which have one bathroom. Four units have been improved over the tenure of current ownership which have resulted in
the separation of Heat/Hot Water and legal vv increases. Two units still remain with utilities being paid for by ownership directly. The building
has one unit that is going to be delivered vacant and there is potential for another two more on or around closing. Ownership is not willing to
hold paper as he is looking to sell this and retire to Florida. All 2 bedroom units can be renovated into proper non railroad three bedrooms per
the floor plan attached as some units have already undergone this process.
to Journal Square Path Station. 65 Hopkins Ave has been owned by the same family for over 25 years and has received meticulous care in
regards to management, maintenance, legal rent increases (VCI) and in renovations. The unit mix features four two bedroom and two three
bedroom units all of which have one bathroom. Four units have been improved over the tenure of current ownership which have resulted in
the separation of Heat/Hot Water and legal vv increases. Two units still remain with utilities being paid for by ownership directly. The building
has one unit that is going to be delivered vacant and there is potential for another two more on or around closing. Ownership is not willing to
hold paper as he is looking to sell this and retire to Florida. All 2 bedroom units can be renovated into proper non railroad three bedrooms per
the floor plan attached as some units have already undergone this process.
PROPERTY FACTS
| Price Per Unit | $225,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 5.30% | Building Size | 5,001 SF |
| No. Units | 6 | Average Occupancy | 83% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1920 |
| Apartment Style | Low-Rise | ||
| Zoning | R-1 | ||
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 5,001 SF |
| Average Occupancy | 83% |
| No. Stories | 3 |
| Year Built | 1920 |
| Zoning | R-1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 3 | - | 850 |
| 2+1 | 3 | - | 850 |
PROPERTY TAXES
| Parcel Number | 06-06801-0000-00004 | Improvements Assessment | $852,200 |
| Land Assessment | $270,000 | Total Assessment | $1,122,200 |
PROPERTY TAXES
Parcel Number
06-06801-0000-00004
Land Assessment
$270,000
Improvements Assessment
$852,200
Total Assessment
$1,122,200
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