Jersey City 4-family 12 CAP

[Ethan Borshansky]

I currently have an opportunity on a fully renovated cash-flowing 4-family property in Jersey City. The property is a half-mile from Richard Street light rail and right next to bus lines going to Journal Square and Exchange Path Station. It is Greenville, but the area is fine, lit, and quiet. The current tenants are some of the nicest tenants I've met (It's fully rented). The basement tenant is a builder and also superintendant. NO RENT CONTROL. ALL NEW SEPARATE UTILITIES.

Layout: 2 bedroom, 2 bedroom, 2 bedroom, 1 bedroom, basement unit.

Purchase: 235k

Gross Income: $4,100 (950 + 950 + 950 + 750 + 500)

Operating Expenses: $1,700 

NOI: $2,380 / month

Annual Net: $28,000

Cap rate: 12%+

After cashout REFI (Qualifies for a residential mortgage)

Amount down: 59k

Mortage: 176k

Annual Net: $18,000

Cash on Cash Return: 31%

PDF with details and COMPS:

JerseyCity4UnitStevens.pdf

 

Please message me or call 201 855 9326 ASAP.

[Ethan Borshansky]

Hi William, I prefer to discuss the property details with prospective buyers/investors. Please feel free to reach me at 201 855 9326.

[William A Gonzalez]

Ethan, Can you provide an address for this property, if it's still available.

[Edith Kostovcikova]

Hi,

I would like more information on this property.  Could you please email me the property information at [e-mail].

Thank you,

-Edith