450 Ocean Ave, Jersey City, NJ

Multi-family for Sale - $2,900,000

ILG Realty Group

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Agent Info

NameEric weiss
CompanyILG Realty Group

Property Info

CIMLS #919078
Location450 Ocean Ave
Jersey City NJ 07305
Last UpdatedJanuary 10th, 2018
TypeMulti-family
Price$2,900,000
DemographicsView data

Contact


Property Description

$2.2 Million Complete Rehab in 2011

3 Commercial Tenants

12 Two-Bedroom and 2 One-Bedroom Apartments

New Roof, Mechanical, and Electrical Systems

New, low maintenance facade

30 Year Tax Abatement

Historically Low Vacancy

Non Government Affordable Housing- Below Market Rents

http://www.1031-jerseycity.info/

Rent at 50% of market

Can raise rents by $250 +/- per unit over the next 2 years

30 Year Tax Abatement New

Can be purchased with 5 Monitor JC

15 Minutes to NYC

Walking distance (Minutes) from multiple forms of Public Transportation

Walking distance to parks and other recreational Activities

Easy access to local Highways


Financials

Asking price represents a 5 Cap on 2016 Pro Forma


Street View


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