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77-79 Sherman Ave 10 Unit Apartment Building $1,650,000 ($165,000/Unit) 6.17% Cap Rate Jersey City, NJ 07307
Executive Summary
77-79 Sherman Avenue | Jersey City, NJ
Excellent opportunity to acquire a 10-unit multifamily investment property in the heart of Jersey City. Situated on a sizable 35' x 86' lot, this well-performing asset offers strong in-place cash flow with additional long-term upside in one of Hudson County’s most active rental markets.
The property features a desirable and diversified unit mix consisting of 3 studios, 6 one-bedroom apartments, and 1 two-bedroom apartment. Current monthly rents total approximately $12,703, generating approximately $152,436 in annual gross operating income with a strong $101,886 NOI and an efficient 33.2% operating expense ratio.
With established rental income, consistent occupancy, and opportunities to further enhance returns through future rent growth and strategic management, 77-79 Sherman Avenue presents an attractive opportunity for investors seeking both immediate cash flow and long-term appreciation.
Ideally located with convenient access to NYC transportation, shopping, dining, neighborhood amenities, and major employment centers, this property offers a compelling combination of location, income, scale, and future upside in the Jersey City multifamily market.
Excellent opportunity to acquire a 10-unit multifamily investment property in the heart of Jersey City. Situated on a sizable 35' x 86' lot, this well-performing asset offers strong in-place cash flow with additional long-term upside in one of Hudson County’s most active rental markets.
The property features a desirable and diversified unit mix consisting of 3 studios, 6 one-bedroom apartments, and 1 two-bedroom apartment. Current monthly rents total approximately $12,703, generating approximately $152,436 in annual gross operating income with a strong $101,886 NOI and an efficient 33.2% operating expense ratio.
With established rental income, consistent occupancy, and opportunities to further enhance returns through future rent growth and strategic management, 77-79 Sherman Avenue presents an attractive opportunity for investors seeking both immediate cash flow and long-term appreciation.
Ideally located with convenient access to NYC transportation, shopping, dining, neighborhood amenities, and major employment centers, this property offers a compelling combination of location, income, scale, and future upside in the Jersey City multifamily market.
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Property Facts
| Price | $1,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $165,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.17% | Building Size | 5,250 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1880 |
| Price | $1,650,000 |
| Price Per Unit | $165,000 |
| Sale Type | Investment |
| Cap Rate | 6.17% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 5,250 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1880 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 6 | - | - |
| 2+1 | 1 | - | - |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-04406-0000-00013 | Improvements Assessment | $550,000 |
| Land Assessment | $450,000 | Total Assessment | $1,000,000 |
Property Taxes
Parcel Number
06-04406-0000-00013
Land Assessment
$450,000
Improvements Assessment
$550,000
Total Assessment
$1,000,000
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77-79 Sherman Ave