19
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$895,000
Est. payment /mo
2 Beds
1.5 Baths
New
1017 WEST SIDE AVE Jc Journal Square, NJ 07306
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Key Details
Property Type Multi-Family
Sub Type 2 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260000332
Style Other-See Remarks
Bedrooms 2
Full Baths 1
Half Baths 1
Tax Year 10359
Property Sub-Type 2 Family
Property Description
Investment property. 100% leased/occupied. 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) Net Operating Income: $60,689 Cap Rate: 6.78% Before showings, proof of funds/letter of intent needed. Allow at least 48h prior any showings.
Location
State NJ
County Hudson
Area Jc Journal Square
Rooms
Basement Finished
Interior
Heating A/C Central, A/C Window, Baseboard, Electric, Gas, Radiators, Steam
Cooling A/C Central, A/C Window, Baseboard, Electric, Gas, Radiators, Steam
Exterior
Exterior Feature Brick
Parking Features None
Listed by THE VIRTUAL REALTY GROUP
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