33-35 Storms Ave
12-Unit Value-Add Multifamily in Jersey City – 16% Upside, 6% Cap Rate
Investment highlights
Value-Add Opportunity: 12-unit multifamily building with approximately 16% rental upside and operational flexibility.
Free Market Units: 100% of the units are free market and rent control exempt, allowing for future rent growth.
Attractive Cap Rate: Offered at a 6.00% cap rate based on current income, providing immediate yield.
Renovated Units: The property features renovated units, enhancing tenant appeal and reducing near-term capital needs.
Brick Construction: Durable brick building with classic curb appeal and long-term resilience.
Laundry & Storage: Laundry and storage facilities are available in the basement for tenant convenience.
Separately Metered: Units are separately metered for cooking gas and electricity, reducing landlord expenses.
Prime McGinley Square Location: Located in a rapidly improving neighborhood with strong connectivity and demand.
Convenient Transit Access: Only a 6-minute walk to the Montgomery St at Jordan Ave bus stop with 21-minute PATH train access to Manhattan.
Landlord Paid Utilities: Landlord pays for water/sewer, common area electric, heat, and hot water.
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