Stabilized In-Place Income:
With a Year 1 cap rate of 6% and NOI over $735K, this deal offers solid immediate cash flow in a core Hudson County submarket.
• Below Replacement Cost Pricing:
At ~$157K per unit, this portfolio is priced well below new construction or replacement cost in Jersey City, leaving room for both rental and appreciation upside.
• Diversified Tenant Mix & Rent Roll Stability:
A healthy mix of 1BR and 2BR units plus five commercial tenants spread across four locations supports consistent income and reduces risk.
• Under-Market Rents:
Average rent $1,178 leaving room for mark-to-market increases.
• Geographic Concentration with Scale:
Offers operational efficiencies and future exit flexibility
• Emerging Submarket with Momentum:
Greenville continues to benefit from spillover demand from Journal Square, Bergen-Lafayette, and Bayonne, driven by renters seeking affordability and proximity to NYC transit.