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Mcginley Square 850 West Side Ave 18 Unit Apartment Building $5,800,000 ($322,222/Unit) 6.50% Cap Rate Jersey City, NJ 07306
INVESTMENT HIGHLIGHTS
- Student housing to residential conversion – 2025
- Washer/dryers on premises
- Oversized one, two and three-bedrooms
- High End Finishes – hardwood floors, modern kitchen & bathrooms
- Elevator building
- Central AC & Heating with separate gas/elec. meters
EXECUTIVE SUMMARY
Broker of Record
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
PROPERTY FACTS
| Price | $5,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $322,222 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 6.50% | Building Size | 15,000 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | ||
| Zoning | Commercial - Multifamily | ||
| Price | $5,800,000 |
| Price Per Unit | $322,222 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 15,000 SF |
| No. Stories | 3 |
| Year Built | 1940 |
| Zoning | Commercial - Multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Gas Range
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | 650 - 800 |
| 2+1 | 6 | - | 850 |
| 2+2 | 3 | - | 1,000 |
| 3+2 | 3 | - | 1,050 |
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Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (73)
PROPERTY TAXES
| Parcel Number | 06-13204-0000-00069 | Improvements Assessment | $2,242,000 |
| Land Assessment | $265,200 | Total Assessment | $2,507,200 |
PROPERTY TAXES
Parcel Number
06-13204-0000-00069
Land Assessment
$265,200
Improvements Assessment
$2,242,000
Total Assessment
$2,507,200
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Mcginley Square | 850 West Side Ave
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