753 W Side Ave - Storefront Retail/Residential FOR SALE


Jersey City, NJ 07306- West Side-Hudson
$2,000,000 USD
201-600-8544
753 W Side Ave, Jersey City, NJ for Sale
$2,000,000 USD
Storefront Retail/Residential - FOR SALE
1/15
null | 10.35% Cap Rate

753 W Side Ave
Jersey City, NJ 07306
West Side-Hudson


OVERVIEW

Reduced and FINAL Price! - Due to cosmetic renovation needed for resident rent normalization! Selling owner absentee, passive income laundromat equipped with paid off machines + 3-Story Mixed-Use Building REAL ESTATE _ 5 Units (4 Residential + 1 Commercial) _ Total Size: 6,822 Sq Ft (2,274 Sq Ft x 3 Floors) _ 1st Floor(Retail): Laundromat w/52 Machines _ 2nd+3rd Floor(Residential): 4 Units (2 BD / 1 Bath) -No Rent Control (Low Rent, High Upside Potential) - Rent Roll :1Fl : $$4,500, 2Fl: $1300 + $1800, 3Fl $1200 + $1300 Total $121,000 _ Tax: $23,590 (2024), Insurance: $11,000, Water: $3,500, PSEG: 66 $3,000, Maintenance: $2,000 _ Property Income (Building): NOI $77,910 _ Retail Income (Laundromat): Gross Sales $360K, NOI $130K **Total COMBINED NOI (Building + Business) : $207K** This owner absentee business has been in operation for over 9 Years. There are no competitors within 10 blocks of this business and City will only allow new laundromat on existing location. A total of 54 Machines - 28 dryers and 26 washers purchased in 2015, all in good condition.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$293 USD /SF

CAP RATE

10.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,964 SF

ZONING

NC, Jersey City

APN/PARCEL ID

06-16102-0000-00013

ASK ABOUT THIS PROPERTY

Andrew SuhC Land RealtyMore Info
201-600-8544

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Andrew SuhC Land RealtyMore Info
201-600-8544

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