The opportunity is a 3 family on Pine Street (just off of Maple) in Jersey City. The units are each 1 bedroom but fairly large and well laid out. The neighborhood is definitely one of the better areas immediately outside of downtown. Two blocks from light rail, one stop away from downtown. Less than a mile by foot to downtown and Liberty State Park.
Pickup is 140k. Repairs 5k.
Rent: 850 x 3 = 2,550 / month (could go up to 900 at least)
Taxes are 1,700/year! (I double checked at the city - will go up in 2014)
NOI is about $1,400/month making it about a 12 CAP
If you are interested in this opportunity, there are a few options as to how we can go about this. I am most likely seeking a passive funding partner(s), 40-100k, but any interest in the deal is welcome. Please email me through the site.
Replies
Ethan: I have a retail buyer who may be interested. PM me details via yahoo.
E
I too am interested in the right multi family dwelling in Jersey City. Please let me know.
Dionne
Hi Ethan-
If you run across anything else in that area please let me know. My fiancee and I are looking to purchase a home in that area to live in.. I am looking a 2 or 3 family and living in one of the units myself, as long as the numbers make sense, of course. Thanks!
Unfortunately no.
Hi Ethan,
Is this still available?
Thanks, Vicki
Attached are photos and cashflow spreadsheet.
249Pine-frontfull.jpg
249PinePhotos.pdf
249PineJCcalculator.xls
There are tenants in the 2nd and 3rd unit. The first is vacant but is actually the best unit.
If you are interested, please add me and send me a message through the site.
Hi Ethan,
I am very much interested in. Are tenants there right now?
Can I see this property sometime soon?
I was wondering about this too
Hey Ethan is the prop still available?
Thanks.
Jon
info@halohomebuyers.com
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