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327-329 Martin Luther King Jr Dr, Jersey City, NJ, 07305

327-329 Martin Luther King Jr Dr
$1,075,000

Key Information

Cap Rate
6.42%
Tot. SF
5,400
Units
6
Type
Apartments
NOI
$69,003

Highlights

Value-Add Opportunity

  • 6 Units
  • 35% Upside
  • 6.42% Cap Rate
  • $179K Price Per Unit

Building Highlights

  • 100% Free Market
  • 4 Residential Units
  • 2 Commercial Units
  • 3/4 Residential Units Renovated
  • Exposed Brick
  • All Two Bedrooms
  • All Separately Metered
  • Tenant pays for heat, hot water, cooking gas, & electric
  • Landlord pays for water/sewer & common area electric
  • Two Blocks Away from the Light Rail

Convenient Transportation

  • The building is approximately a 5-minute walk to MLK Drive light rail stop which provides a total 35 minute trip to Manhattan via the PATH Train.

Photos

Location

Agents

Broker of Record

Patrick Forde

License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
52 Park Avenue, Suite B5, Park Ridge NJ 07656