344 Communipaw Ave
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344 Communipaw Ave
4 Unit Block of Flats £1,956,125 (£489,031/Unit) 6.12% Net Initial Yield Jersey City, NJ 07304
Investment Highlights
- Full gut rehab completed in 2021. Property has a Certificate of Occupancy
- Vibrant neighborhood with restaurants, transportation and parks nearby
- Vacant ground floor retail space ideal for your business or secure a tenant for additional income
Executive Summary
* Investment Opportunity: 344 Communipaw Ave, Jersey City, NJ *
Discover an exceptional investment opportunity at 344 Communipaw Ave in the vibrant city of Jersey City, NJ. This property offers a range of highlights that make it a lucrative venture for investors seeking prime real estate assets.
Key Investment Highlights:
Prime Location: Situated in the heart of Jersey City, 344 Communipaw Ave enjoys a strategic location within a thriving urban center. With proximity to transportation hubs, major highways, and local amenities, the property offers unparalleled convenience and accessibility.
Mixed-Use, Investment or Owner User: The property presents a versatile mixed-use potential, ideal for investors looking to capitalize on diverse revenue streams. The commercial space offers 1,300 square feet of indoor space with 12' ceilings and 840 square feet of outdoor space. Estimated Commercial Rent (including tenant reimbursements): $6,000. per month. There are three, 3-Bedroom apartment units with separate utilities, currently leased at $3,150./month each.
Strong Economic Fundamentals: Jersey City is renowned for its robust economy, driven by a diverse range of industries, including finance, technology, and real estate. As a result, investments in the area benefit from a stable market with promising growth prospects.
Rapidly Growing Market: Jersey City's real estate market has experienced significant growth in recent years, fueled by increasing demand for urban living spaces and commercial developments. As the city continues to attract businesses and residents alike, property values are poised for appreciation.
Proximity to New York City: Located just across the Hudson River from Manhattan, Jersey City offers unparalleled access to the vibrant cultural and economic epicenter of New York City. Investors can capitalize on the city's proximity to NYC while enjoying relatively lower property costs.
Historical Charm with Modern Amenities: 344 Communipaw Ave embodies the perfect blend of historical charm and modern amenities. The property's architectural character adds value and appeal, while renovations and upgrades enhance its attractiveness to tenants and buyers.
Don't miss out on this prime investment opportunity in Jersey City! Contact us today to learn more about 344 Communipaw Ave and take the next step towards securing a valuable asset in one of New Jersey's most dynamic markets.
The property is being sold as-is.
Discover an exceptional investment opportunity at 344 Communipaw Ave in the vibrant city of Jersey City, NJ. This property offers a range of highlights that make it a lucrative venture for investors seeking prime real estate assets.
Key Investment Highlights:
Prime Location: Situated in the heart of Jersey City, 344 Communipaw Ave enjoys a strategic location within a thriving urban center. With proximity to transportation hubs, major highways, and local amenities, the property offers unparalleled convenience and accessibility.
Mixed-Use, Investment or Owner User: The property presents a versatile mixed-use potential, ideal for investors looking to capitalize on diverse revenue streams. The commercial space offers 1,300 square feet of indoor space with 12' ceilings and 840 square feet of outdoor space. Estimated Commercial Rent (including tenant reimbursements): $6,000. per month. There are three, 3-Bedroom apartment units with separate utilities, currently leased at $3,150./month each.
Strong Economic Fundamentals: Jersey City is renowned for its robust economy, driven by a diverse range of industries, including finance, technology, and real estate. As a result, investments in the area benefit from a stable market with promising growth prospects.
Rapidly Growing Market: Jersey City's real estate market has experienced significant growth in recent years, fueled by increasing demand for urban living spaces and commercial developments. As the city continues to attract businesses and residents alike, property values are poised for appreciation.
Proximity to New York City: Located just across the Hudson River from Manhattan, Jersey City offers unparalleled access to the vibrant cultural and economic epicenter of New York City. Investors can capitalize on the city's proximity to NYC while enjoying relatively lower property costs.
Historical Charm with Modern Amenities: 344 Communipaw Ave embodies the perfect blend of historical charm and modern amenities. The property's architectural character adds value and appeal, while renovations and upgrades enhance its attractiveness to tenants and buyers.
Don't miss out on this prime investment opportunity in Jersey City! Contact us today to learn more about 344 Communipaw Ave and take the next step towards securing a valuable asset in one of New Jersey's most dynamic markets.
The property is being sold as-is.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | £1,956,125 | Building Class | C |
| Price Per Unit | £489,031 | Lot Size | 0.06 AC |
| Sale Type | Investment or Owner User | Building Size | 5,344 SF |
| Net Initial Yield | 6.12% | Number of Floors | 4 |
| No. Units | 4 | Year Built/Renovated | 1930/2021 |
| Property Type | Residential | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | £1,956,125 |
| Price Per Unit | £489,031 |
| Sale Type | Investment or Owner User |
| Net Initial Yield | 6.12% |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,344 SF |
| Number of Floors | 4 |
| Year Built/Renovated | 1930/2021 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+2 | 3 | £2,465 | 1,300 |
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Walk Score ®
Very Walkable (86)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £940,427 | |
| Land Assessment | £342,165 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £598,261 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£342,165
Improvements Assessment
£598,261
Total Assessment
£940,427
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
zoning
| Zoning Code | MU-A (Mixed Use - A Zone as per the Morris Canal Redevelopment Plan) |
| MU-A (Mixed Use - A Zone as per the Morris Canal Redevelopment Plan) |
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344 Communipaw Ave
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