236 Lexington Avenue Jersey City, NJ
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1 236 Lexington Avenue Jersey City, NJ
2 Executive Summary LOCATION: BUILDING/ UNITS: 236 Lexington Ave between Mallory Ave and Marcy Ave, Jersey City, NJ Six (6) Apartments PROPERTY CLASS: Block # / Lot# APARTMENT - 4C LOT SIZE: BUILDING DESCRIPTION: 25 x Acres 3S-B-D-6U-H UTILITIES: Separate utilities for units. Owner pays nominal amount for building water/sewer and heat. CONDITION: Well maintained and fully occupied. Some units renovated. Steady income and easy to manage ASKING PRICE: NUMBER OF STORIES: $909,000 3 Incredible opportunity for an established, producing investment at an entry price point in Jersey City. Own a piece of an up and coming neighborhood, experiencing rapid change and growth, for a price that doesn t come around often. Solid building, well managed and maintained, with six currently occupied units Ideally situated within blocks of it all this location provides easy access to major throughways, public transit, shopping, and the light rail. Just one block to Lincoln Park and the waterfront. There is an upside to all current rents and opportunity to renovate and develop the property to increase the value of the asset. Easy to manage building can be as An easy NYC commute makes it a hands-off as you want it to be, with an desirable rental property and easy to fill. already proven financial model and The area has been experiencing established tenants. The sky is the limit as incredible development, growth of Jersey City continues to grow - Now is the services, and is poised to become the time to take your piece of it. next hot market.
3 Holland Tunnel Grove St Station West Side Light Rail Jersey City Public Library ZamirRealtor.com
4 Building Features HIGHLIGHTS: Near Major Highways Close to Light Rail 1 Block from Lincoln Park Upside to Rents Opportunity to renovate and Improve Steady Income Hold and Grow Investment Developing Area Prime Location Development Projects Nearby Jersey City - Hudson County s Hot Market 30 Minutes to Downtown Manhattan by public transit (Bus and Light Rail) or by car utilizing nearby Holland Tunnel entrance Multiple new developments and construction projects continue to improve real estate values over time. The West Side has recently and is currently experiencing major growth. Now is the time to buy while prices are still reasonable, as Jersey City rents and property values continue to soar. Besides easy NYC access, Jersey City itself is enjoying a booming shopping, dining and social scene - a destination in and of itself. Easy to Manage Fully occupied by long-term tenants Some Renovated Units Building in good condition and well maintained, no major improvements needed Separate metered major utilities, with only a low owner output for sewer, water, heat and common area electric.
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6 Building Financials Rent Roll Income & Expense Unit Apartment Type Monthly Rent Annual Rent #1 1 BR, 1 BTH $ 1, $ 15, #2 1 BR, 1 BTH $ 1, $ 13, #3 2 BR, 1 BTH $ 1, $ 14, #4 1 BR, 1 BTH $ $ 11, #5 2 BR, 1 BTH $1, $ 12, #6 1 BR, 1 BTH $ 1, $ 15, Total $ 6, $ 82, Gross Income $ 82, PSE&G $ (3,600.00) Insurance $ (2,184.00) Real Estate Taxes $ (9,078.65) Water/Sewer $ (4,183.06) Super $ (2,400.00) Management (3%) $ (2,488.38) Total Expenses $ (23,934.09)
7 Investment Highlights Asking Price $909,000 Gross Rental Income $ 82, Total Expenses $ 23, NOI $ 59, CAP 6.5%
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9 Contact Information Cell: Office: Fax: ZOHAR ZACK ZAMIR Broker Associate, Founder The Zamir Group - Keller Williams Town Life 94 River St Hoboken, NJ Fair Lawn Ave Fair Lawn, NJ Washington St Tenafly, NJ 07670
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