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$ 899,900
Est. payment /mo
Active
718 W Side Avenue Jersey City, NJ 07306
6 Beds
4 Baths
4,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiple Buildings
Listing Status Active
Purchase Type For Sale
Square Footage 4,400 sqft
Price per Sqft $204
Municipality Jersey City (JER)
MLS Listing ID 22616448
Bedrooms 6
Full Baths 3
Half Baths 1
Annual Tax Amount $13,356
Tax Year 2025
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 20 x 100.46
Property Sub-Type Multiple Buildings
Source MOREMLS (Monmouth Ocean Regional REALTORS®)
Property Description
Mixed-Use Investment Opportunity - Prime Jersey City Location Exceptional value-add mixed-use investment featuring three units consisting of one street-level retail space and two spacious residential apartments. The commercial storefront offers approximately 1,100 square feet, 1.5 bathrooms, excellent street visibility, storefront access, and rear yard access. Previously operated as a juice bar and approved for a RETAIL LOCATION (buyer to perform their own due diligence regarding zoning and permitted uses). The residential component consists of two 3-bedroom, 1-bath condos, both currently occupied on month-to-month leases, providing immediate cash flow with substantial upside potential. Current rents are below market, offering investors a strong opportunity to increase income and maximize returns as a value add proposition. Property features separate gas, electric, and water meters, with landlord currently paying water and sewer expenses. The retail tenant is responsible for 60% of the water and sewer charges. Additional highlights include a huge walkout basement, separate heating systems, natural gas heat, hot water baseboard heating, maintained roof, replaced hot water heaters, updated furnaces, and brand-new 3-phase electrical panels. The retail space also features a 9-foot drop ceiling and central air conditioning. Current monthly income is approximately $6,075/month ($72,900 per year) with a projected pro forma of approximately $7,500/month ($90,000), making this an ideal opportunity for investors seeking both stable income and future growth. Conveniently located near shopping, transportation, restaurants, and major commuter routes. Property Highlights: Mixed-use building with 1 retail and 2 residential units Retail storefront approximately 1,100 SF Two 3-bedroom, 1-bath apartments Separate utilities and meters Natural gas heat Central air in retail space Huge walkout basement Maintained roof and major mechanical updates New 3-phase electrical service Strong value-add rental upside Excellent owner-user or investment opportunity Utilities paid by tenants A rare chance to acquire a cash-flowing mixed-use asset with significant upside in a high-demand location. 718 W Side P&L: Juice bar - $2,600/month, it's going to be a deli, 2nd floor - $1,800/month due for increase (should rent for $2,500/month) 3rd floor - $1,625/month due for increase (should rent for $2,500/month) Current rent is $6,075/month with current total rent is $72,900 but should be $7,600/month with pro forma prospective rent is $91,200! Current NOI is $55,500 which is a 6.1 CAP at $900,000 acquisition! Prospective CAP is 8.2 The residential rent has been kept at a low payment because they have been there for a long time They are way over due for rent increases and current rent for a 3 bedroom and 1 bath 1100 sq ft should be $2,500+/month
Location
State NJ
County Hudson
Area None
Building/Complex Name None
Direction 718 W Side Ave, Jersey City, NJ 07306
Rooms
Basement Walk-Out Access, Full
Interior
Heating Baseboard
Cooling Multi Units
Exterior
Private Pool No
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 06-16401-0000-00070
Virtual Tour https://www.zillow.com/view-imx/4600af6c-887f-4648-a332-0a82c63661d5?wl=true&setAttribution=mls&initialViewType=pano
Listed by RE/MAX Central
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