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70 Tonnele Ave 17 Unit Apartment Building $4,343,000 ($255,471/Unit) 6.48% Cap Rate Jersey City, NJ 07306
Investment Highlights
- Renovated Units.
- Large Units
- Separately Metered Units
- Strong unit mix of two- and three-bedrooms.
- New Boilers &Water Heaters
- Tenants pay for heat, hot water, cooking gas, & electric. Landlord pays for common area electric, sewer, & water.
Executive Summary
Broker of Record
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Ste. 440, Teaneck, NJ 07666
(866) 889-0550
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Ste. 440, Teaneck, NJ 07666
(866) 889-0550
Property Facts
| Price | $4,343,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $255,471 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.48% | Building Size | 14,100 SF |
| No. Units | 17 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1903 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C-1 | ||
| Price | $4,343,000 |
| Price Per Unit | $255,471 |
| Sale Type | Investment |
| Cap Rate | 6.48% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 14,100 SF |
| No. Stories | 5 |
| Year Built | 1903 |
| Opportunity Zone |
Yes |
| Zoning | C-1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 17 | - | 880 |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-10601-0000-00019 | Improvements Assessment | $1,115,000 |
| Land Assessment | $935,000 | Total Assessment | $2,050,000 |
Property Taxes
Parcel Number
06-10601-0000-00019
Land Assessment
$935,000
Improvements Assessment
$1,115,000
Total Assessment
$2,050,000
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70 Tonnele Ave
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