65 Hopkins Ave - Apartments FOR SALE


Jersey City, NJ 07306- The Heights
$1,350,000 USD
973-610-5145
65 Hopkins Ave, Jersey City, NJ for Sale
$1,350,000 USD
Apartments - FOR SALE
1/22
null | 5.3% Cap Rate

65 Hopkins Ave
Jersey City, NJ 07306
The Heights


HIGHLIGHTS

  • Multiple Vacancies at Closing
  • Same owned since 1999
  • Walking Distance to Path Train

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$270 USD /SF

# OF UNITS

6

PRICE/UNIT

$225,000

CAP RATE

5.3%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

R-1

APN/PARCEL ID

06-06801-0000-00004

ASK ABOUT THIS PROPERTY

Gregory EdgellGRID Real EstateMore Info
973-610-5145

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Gregory EdgellGRID Real EstateMore Info
973-610-5145

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