995 Summit Ave - Apartments FOR SALE


Jersey City, NJ 07307- The Heights
$4,250,000 USD
973-610-5145
995 Summit Ave, Jersey City, NJ for Sale
$4,250,000 USD
Apartments - FOR SALE
1/7
null | 5.2% Cap Rate

995 Summit Ave
Jersey City, NJ 07307
The Heights


HIGHLIGHTS

  • Brick Corner Property w/ 37% Upside In Rents
  • 3% Increases Approved from Rent Leveling Board to Take Effect 2026
  • 75% of Building Ready for Repositioning

OVERVIEW

DESCRIPTION · Rare to market corner multi family asset in the heart of Jersey City Heights with 37% upside in rents · Brick walk up with historic mosaic tile common areas, decorative architectural elements and efficient layouts · Brand new 3% rental increases approved from Rent Control board pushing up in place income over $7,836 · Tenant pays cooking gas, electric and landlord pays heating and hot water · 6 of the 24 units have been turned over with (1) 3 Bedroom (3) 2 Bedroom (19) 1 Bedroom (1) Studio

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$298 USD /SF

# OF UNITS

24

PRICE/UNIT

$177,083

CAP RATE

5.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1937

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

-

APN/PARCEL ID

06-02704-0000-00023

ASK ABOUT THIS PROPERTY

Gregory EdgellGRID Real EstateMore Info
973-610-5145

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

Gregory EdgellGRID Real EstateMore Info
973-610-5145

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