1017 Westside Ave - Multi-Family FOR SALE


Jersey City, NJ 07306- Journal Square
$895,000 USD
917-355-1556
1017 Westside Ave, Jersey City, NJ for Sale
$895,000 USD
Multi-Family - FOR SALE
1/21
null | 6.78% Cap Rate

1017 Westside Ave
Jersey City, NJ 07306
Journal Square


OVERVIEW

Investment property. 100% leased. 1017 West Side Avenue is a mixed-use building located in the Marion section of Journal Square, Jersey City, NJ. First floor: Commercial space occupied by the Jersey City Public Library. The library has been the tenant for many years. Long-term lease in place with a 4% annual rent increase ending May 2028. Tenant responsible for maintenance cost. Second floor: Residential unit consisting of 2 bedrooms, 1 bathroom, and a large private deck. Yearly lease. Tenants pay all utilities except water. Commercial space: 952 SF + large private garden of approximately 780 SF Residential apartment: 1,385 SF total (including finished basement) + outdoor deck of approximately 430 SF Recent capital improvements: •New multi-zone split HVAC system for commercial space (2019) •New main copper water line with street shutoff valve (2021) •New silicone roof (2022) •Lead-safe certification passed (2024)

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$389 USD /SF

# OF UNITS

2

PRICE/UNIT

$447,500

CAP RATE

6.78%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Storefront Retail/Residential, Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

R-1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Frederic GabrielThe Virtual Realty GroupMore Info
917-355-1556

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Frederic GabrielThe Virtual Realty GroupMore Info
917-355-1556

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.