Property History
6 unit multifamily building in Bayonne, New Jersey. The property has
a great unit mix of one and two bedroom apartments. Four out of the
six apartments are currently free market and have been permanently
decontrolled. The deal has a great value add component with 54%
upside from the current rents and potential to permanently decontrol
the remaining two apartments.
Tenants are responsible for heat, cooking gas and electric. Each
apartment has it’s own furnace located in the basement. There is also
one brand new 125 gallon water tank for the building.
The property is an 8 minute walk to the 45 St light rail station with a direct
route to exchange place in downtown Jersey City in 14 minutes and an
additional 20 minute trip to get into NYC. The property is appoximately
two miles from the from the projected Bayonne Ferry Terminal which will
provide an alternative, time saving route for Manhattan commuters. 77
W 47th Street has direct access to Interstates Interstate I—95, Interstate
– 78, and Route 1 & 9.
BUILDING HIGHLIGHTS
• Roof recoated recently
• New 125 gallon water heater - 2020
• New subm pump installed - 2021
• Laundry machines in basement
• Tenants are responsible for heat, cooking gas and electric
VALUE ADD OPPORTUNITY
• 54% uspide from current rents
• 4.17% Current Cap / 7.91% Proforma Cap
• 4 out of 6 apartments are free market
Loan History
Financial History
Tax History
Contact Information
Ownership Information
Property Details
Contacts
Map
Comparable Properties
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