393 3rd St
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393 3rd St
6 Unit Apartment Building $2,250,000 ($375,000/Unit) 4.89% Cap Rate Jersey City, NJ 07302
Investment Highlights
- Unrealized income from basement studio/workspace.
- Great location near parks, restaurants, bars, shopping, music venues, and transportation.
- Potential for roofdeck accesible by second floor units
- New Hardieplank siding and Marvin Windows.
- Full Sprinkler system, wired security cameras, and coin operated laundry
- 10 year old roof.
Executive Summary
Don't miss this income producing 6 unit plus basement workspace in Jersey City's vibrant Village neighborhood! Fully leased out, with 3 of the units having recently been lovingly and meticulously renovated, this building is ready for you to start collecting rent for yourself without lifting a finger. With New Hardie board siding and Marvin Windows, a 10-year-old roof, sprinkler system, wired security cameras, coin operated laundry machines, and a French drain with 3 sump pumps, you've got your bases covered! All this plus potential upside with an unrented basement workshop/studio space and unrealized roof deck accessible by 2 apartments. Amazing location with plenty of new development, parks, great restaurants and bars, White Eagle Hall, and charming retail shops.
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,250,000 | Property Subtype | Apartment |
| Price Per Unit | $375,000 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.89% | Lot Size | 0.04 AC |
| Sale Conditions | 1031 Exchange | Building Size | 6,000 SF |
| Gross Rent Multiplier | 14.5 | No. Stories | 3 |
| No. Units | 6 | Year Built | 1992 |
| Property Type | Multifamily |
| Price | $2,250,000 |
| Price Per Unit | $375,000 |
| Sale Type | Investment |
| Cap Rate | 4.89% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 14.5 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 6,000 SF |
| No. Stories | 3 |
| Year Built | 1992 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 700 |
| 1+1.5 | 1 | - | 900 |
| 2+1 | 1 | - | 1,100 |
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Walk Score ®
Walker's Paradise (98)
Transit Score ®
Excellent Transit (78)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 06-11008-0000-00013 | Total Assessment | $1,488,800 (2024) |
| Land Assessment | $270,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,218,800 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
06-11008-0000-00013
Land Assessment
$270,000 (2024)
Improvements Assessment
$1,218,800 (2024)
Total Assessment
$1,488,800 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | N/Av |
| N/Av |
-
Jon Sisti -
Joseph Sisti -
Corcoran Sawyer Smith
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393 3rd St
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