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221 Pacific Ave

6 Unit Apartment Building $1,550,000 ($258,333/Unit) 6.76% Cap Rate Jersey City, NJ 07304

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Investment Highlights

Fully renovated 6 unit building
Charming interiors
Efficient heating and air systems

Modern kitchen upgrades
Seperate utilities for each unit
Prime location in Bergen Lafayette

Executive Summary

A fantastic investment opportunity! This fully renovated 6-unit investment property offers, granite counter tops, stainless steel appliances, hardwood floors, and exposed brick for added old-world charm. Each of the six two-bedroom apartments has seperate utilities, ensurimng convenience for tenants. Additionally, every apartment has its own separate gas heating system, and a modern forced air system is installed in each unit. This property is a great chance to be part of the Bergen Lafayette revival. Don't miss out on this excellent investment opportunity!

Investment Summary 221 (1)(1)

Financial Summary (Pro forma - 2024)	Annual	Annual Per SF
Gross Rental Income	$130,140	$31.55
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$130,140	$31.55
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$24,375	$5.91
Net Operating Income	$105,765	$25.64

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual	$130,140
Annual Per SF	$31.55

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$130,140
Annual Per SF	$31.55

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$24,375
Annual Per SF	$5.91

Net Operating Income
Annual	$105,765
Annual Per SF	$25.64

Property Facts

Price	$1,550,000	Building Class	C
Price Per Unit	$258,333	Lot Size	0.06 AC
Sale Type	Investment	Building Size	4,125 SF
Cap Rate	6.76%	Average Occupancy	100%
No. Units	6	No. Stories	3
Property Type	Multifamily	Year Built	1921
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	$1,550,000
Price Per Unit	$258,333
Sale Type	Investment
Cap Rate	6.76%
No. Units	6
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.06 AC
Building Size	4,125 SF
Average Occupancy	100%
No. Stories	3
Year Built	1921
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.