3405 John F Kennedy Blvd - Apartments FOR SALE


Jersey City, NJ 07307- The Heights
$4,300,000 USD
201-742-6121
3405 John F Kennedy Blvd, Jersey City, NJ for Sale
$4,300,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

3405 John F Kennedy Blvd
Jersey City, NJ 07307
The Heights


HIGHLIGHTS

  • Value-Add Opportunity with Potential to Convert Vacant Units into Additional Bedrooms
  • Prime Location in the Highly Sought-After Heights Neighborhood of Jersey City
  • Strong Rental Demand with Excellent Connectivity to Manhattan and Local Employment Hubs
  • 28 Percent Upside in Current Rents, Providing Immediate Revenue Growth Potential
  • Recent Capital Expenditures Include a New Boiler and Roof, Enhancing Operational Efficiency
  • Additional Income Potential Through Basement Storage Rentals or an Extra Unit Development

OVERVIEW

Marcus & Millichap is pleased to present for sale the multifamily property located at 3405 John F. Kennedy Boulevard in Jersey City, New Jersey. This 21-unit brick walk-up apartment building offers a compelling value-add opportunity in the highly sought-after Heights neighborhood. With the potential to enhance rental income through strategic unit reconfiguration, within the capital improvement program convert one-third of the vacant units into additional bedrooms. Additionally, the large basement presents an opportunity for additional income through storage rentals or the development of an extra unit. The property also features a 28 percent upside in current rents, providing future revenue growth potential. Recent capital expenditures, including a new boiler and roof, ensure operational efficiency and reduce near-term maintenance costs. Situated in one of Jersey City’s most desirable areas, the stabilized property benefits from strong rental demand, excellent connectivity to Manhattan, and proximity to local amenities, employment hubs, and public transportation. There will be 8 units delivered vacant at sale.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$211 USD /SF

# OF UNITS

21

PRICE/UNIT

$204,762

CAP RATE

Request Cap Rate

% LEASED

60%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

-

APN/PARCEL ID

06-03402-0000-00010

ASK ABOUT THIS PROPERTY

Jonathan ZamoraMarcus & MillichapMore Info
201-742-6121

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

Jonathan ZamoraMarcus & MillichapMore Info
201-742-6121

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