289 Martin Luther King Jr Dr - Apartments FOR SALE


Jersey City, NJ 07305- Bergen-Lafayette
$1,250,000 USD
201-725-6695
289 Martin Luther King Jr Dr, Jersey City, NJ for Sale
$1,250,000 USD
Apartments - FOR SALE
1/35
null | 8.4% Cap Rate

289 Martin Luther King Jr Dr
Jersey City, NJ 07305
Bergen-Lafayette


OVERVIEW

Welcome to 289 MLK Dr, a unique and investment-ready 5-unit mixed-use building in the heart of Jersey City, NJ. Offering a proforma cap rate of over 8.5%This property combines newly renovated residential units and a thriving, fully operational bodega on the ground floor, offering an excellent opportunity for investors or owner-occupants seeking a property with strong income potential. Four spacious 2-bedroom, 1-bathroom apartments featuring contemporary updates, high ceilings, and ample natural light. These units offer modern kitchens, updated bathrooms, central heating and AC, and hardwood floors throughout. The ground-floor retail space is home to a local bodega, providing essential goods to the community and generating steady rental income. Located just 5 blocks from the MLK Light Rail Station, commuting to New York City is convenient and fast. The station connects to the Hudson-Bergen Light Rail, which provides a direct route to Hoboken Terminal in approximately 20 minutes, where you can easily transfer to PATH trains for quick access to Manhattan (about a 10-minute ride). Whether you’re looking to build equity or add a reliable income stream, this property provides immense value. Schedule a tour today to see the full potential of this incredible opportunity!

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$298 USD /SF

# OF UNITS

5

PRICE/UNIT

$250,000

CAP RATE

8.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,063 SF

ZONING

commercial

APN/PARCEL ID

06-23102-0000-00027

ASK ABOUT THIS PROPERTY

George LlerenaProvident Legacy Real EstateMore Info
201-725-6695

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George LlerenaProvident Legacy Real EstateMore Info
201-725-6695

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.