Listed by Grid Real Estate LLC
$1,700,000
3697 KENNEDY BLVD | 8 Unit Multifamily
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 8,266
Cap Rate 6.28%
NOI $106,681
Tenancy Multi
Price per SqFt $206
Lot Size (SqFt) 2,686
Investment Type Value Add
Multifamily | 8 Units
Marketing description
A rare corner brick multifamily offered exclusively in Jersey City's Northern Heights corridor, with dual frontage on Kennedy Blvd and Hague St. Four of eight units are delivered vacant with registered rents in place, and the seller is confident three additional units will be open to leave — a path to re-rent the majority of the building at market. All tenants pay their own heat, hot water, electric and gas, keeping the landlord's expense load light. Clean motivation, no distress.
The seller has recently obtained an updated Green Card, an NFA letter for the underground oil tank (removed, with mild remediation completed), and an updated rent registration and expense sheet from the City dated June 6, 2026 — included below.
Investment highlights
- Eight Unit Building Four units delivered vacant — with three more expected to follow — open the door to renovate and re-rent the majority of the building at market rents, capturing real value-add upside.
- Underground oil tank removed with mild remediation completed and an NFA letter in hand — diligence de-risked up front.
- Tenants cover their own heat, hot water, electric and gas, leaving taxes, insurance and water/sewer as the primary owner costs.
- The building carries a current, active registration with the State of New Jersey — reflecting an owner who has kept compliance up to date and giving the next buyer a cleaner diligence path.
Listing Contacts
Listed by Grid Real Estate LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$106,681.16
$8,890.10/mo
Valuation Metrics
0
DSCR
6.28%
Cap Rate
6.28%
ROI
Map
Zoning
R-1 ResidentialSingle FamilyNeighborhood Housing
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View all 22 uses
View all 22 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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