117 Grant Avenue
Multifamily | 6 Units | $241,667/unit
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 117 Grant Avenue in Jersey City, New Jersey (“the Property”). The Property is improved by a three-story building that contains six (6), 3-Bedroom/1-Bathroom residential units. The building is situated on a 0.06-acre parcel of land.
The Property is strategically located along Martin Luther King Drive Jersey City’s Bergen-Lafayette neighborhood. 117 Grant Avenue is just a short walk from Martin Luther King Drive, Bergen Avenue and John F Kennedy Boulevard, three of the area’s primary corridors. The location offers convenient access to a multitude of retail, dining, entertainment and transportation amenities in both Jersey City and neighboring Bayonne. Jersey City is a suburb of New York City, located in the heart of Hudson County within the New York metropolitan area. The affluent and densely populated area is 3-miles west of New York City.
Investment highlights
THE ASSET
117 Grant Avenue is a three-story multi-family Property that contains six (6), 3-Bedroom/1-Bathroom residential units on a 0.06-acre parcel of land.
CONVENIENT INFILL LOCATION
The Property is in the Bergen-Lafayette neighborhood of Jersey City, a high density, urban-infill area. The location offers convenient access to a multitude of retail, dining, entertainment and transportation amenities in both Jersey City and neighboring Bayonne.
WALKABLE LOCATION
The Property is positioned in between Bergen Avenue and Martin Luther King Drive and is a short walk from John F Kennedy Boulevard, three of the area’s primary retail corridors.The location is 0.3 miles from NewJersey City University, a public university with over 5,000 students, and is in close proximity to a number of primary and secondary educational institutions. Additionally, the Property is convenient to national retailers, restaurants, and local businesses.
TRANSIT ORIENTED LOCATION
117 Grant Avenue is 0.4 miles from the MLK Drive Station with service on the Hudson-Bergen Light Rail, and there is bus service available along both Bergen Avenue and Martin Luther King Drive as well as many of the other nearby streets. The Property is 2 miles from the Journal Square PATH Station, with service on the Orange and Red lines, 5 miles from the Holland Tunnel connecting the area with lower Manhattan, and 2.9-miles from Exchange Place (Path Train Station – Green & Red Lines) and the Paulus Hook ferry terminal.
The Property also benefits from its proximity to several interstates and state highways (Interstate 78, US Route 9, and NJ Route 440).
UTILITIES
Each unit is separately metered for electricity, gas fired heat, and gas fired hot water which the tenants pay directly. The landlord is responsible for common area electric and domestic water and sewer.
STRONG DEMOGRAPHICS
Over 78,600 people live within 1 mile of the Property with an average household income of $97,146. An impressive 314,700+ people live within a 3-mile radius of the Property with an average household income of $152,359.
SIGNIFICANT POPULATION GROWTH
Jersey City and the 3-mile area surrounding the Property have experienced unprecedented population growth over the last 15 years. The population within 3 miles of the Property has increased by more than 29% since 2010.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
