19 Jewett Ave, Jersey City, NJ 07304

Description

Introducing this gut-renovated 7-unit gem in the heart of McGinley Square, between Monticello Ave and Summit Ave. Located in an Opportunity Zone, this beautiful brick veneered/stucco building is predominantly comprised of 3-4 bedrooms and 1–2-bathroom units. Current CAP-RATE is 6.7% including all management fees. Building is fully occupied. There is a private backyard for the duplex apartment, and the opportunity to increase rents and add a laundry room in the basement. Nestled down the street from 99-unit and 38-unit new construction buildings and among many development sites. Just steps away from Journal Square, this neighborhood is prime with redevelopment opportunities. All utilities are separate and central AC/heat throughout the building, mini split setup in the basement. All legal base rents have been registered higher than current rents.