61-61.5 Martin Luther King Dr | Jersey City, NJ 07305
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- LoopNet Team
61-61.5 Martin Luther King Dr
Jersey City, NJ 07305
Jersey City Mixed Use · Residential Property For Sale · 9 Units
Investment Highlights
- Three-story mixed brick building with 9 units, 7 two-bedroom, 1 one-bedroom, and 1 stable retail unit that has a lease through June 2035.
- Situated just two miles from the Journal Square Transportation Center and a two-minute walk from JFK Boulevard bus stop, which has rides to Manhattan.
- Unique cash-flowing value-add opportunity for an investor to lease-up on current market rents in one of the strongest multi-family markets in NJ.
- Located in the Greenville neighborhood, within 10 minutes of Liberty State Park and near local parks, cultural centers, and live music venues.
- The neighborhood has benefited from the recent revitalization of Downtown Jersey City, and its proximity to Bayonne gives Greenville an advantage.
- Strong demographics with 231,787 residents in a three-mile radius and nearby retailers like Quick Stop Deli Grocery, Greenville Pharmacy, and more.
PROPERTY FACTS
| No. Units | 9 | Lot Size | 0.07 AC |
| Property Type | Residential | Building Size | 7,500 SF |
| Property Subtype | Apartment | Average Occupancy | 87% |
| Apartment Style | Low Rise | Number of Floors | 3 |
| Building Class | C | Year Built | 1920 |
| No. Units | 9 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 7,500 SF |
| Average Occupancy | 87% |
| Number of Floors | 3 |
| Year Built | 1920 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 7 | - | - |
PROPERTY TAXES
| Parcel Number | 06-26401-0000-00021 | Improvements Assessment | £735,268 |
| Land Assessment | £68,308 | Total Assessment | £803,576 |
PROPERTY TAXES
Parcel Number
06-26401-0000-00021
Land Assessment
£68,308
Improvements Assessment
£735,268
Total Assessment
£803,576
zoning
| Zoning Code | M.L.K Drive |
| M.L.K Drive |
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