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Multifamily

64 W 18th St

64 W 18th St, Bayonne, NJ 07002

Listing Price: $925,000

Cap Rate
5.35%
Number of Units
6
Price/Unit
$154,167
Price/Gross SF
$210.23
Gross SF
4,400

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a 6 unit multifamily building in Bayonne, New Jersey. It’s located on 18th St just a block away from Broadway and under 10 minutes to the 22nd St light rail station. The building contains 5 two bedroom and one 1 bedroom apartment. Three of the six units are fully free market and half of the units have recently been fully renovated. There is currently 58% upside to bring the building to a 9.68% proforma cap rate when rents are increased. Tenants pay for hot water. The building is located in a quieter section of Bayonne, but still just a block away from Broadway, and a 9 minute walk to the light rail. The light rail will get commuters into NYC in around 25 minutes. The property is approximately two miles from the from the projected Bayonne Ferry Terminal which will provide an alternative, time saving route for Manhattan commuters. 64 W 18th St has direct access to Interstates Interstate I—95, Interstate – 78, and Route 1 & 9.

Investment Highlights

  • 58% Upside in Rents
  • 3 out of 6 Units Free Market
  • 5.02% Current Cap / 9.73% Proforma Cap

Exclusively Listed By

Multifamily

64 W 18th St

Listing Price: $925,000

Cap Rate
5.35%
Number of Units
6
Price/Unit
$154,167
Price/Gross SF
$210.23
Gross SF
4,400

Investment Highlights

  • 58% Upside in Rents
  • 3 out of 6 Units Free Market
  • 5.02% Current Cap / 9.73% Proforma Cap

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a 6 unit multifamily building in Bayonne, New Jersey. It’s located on 18th St just a block away from Broadway and under 10 minutes to the 22nd St light rail station. The building contains 5 two bedroom and one 1 bedroom apartment. Three of the six units are fully free market and half of the units have recently been fully renovated. There is currently 58% upside to bring the building to a 9.68% proforma cap rate when rents are increased. Tenants pay for hot water. The building is located in a quieter section of Bayonne, but still just a block away from Broadway, and a 9 minute walk to the light rail. The light rail will get commuters into NYC in around 25 minutes. The property is approximately two miles from the from the projected Bayonne Ferry Terminal which will provide an alternative, time saving route for Manhattan commuters. 64 W 18th St has direct access to Interstates Interstate I—95, Interstate – 78, and Route 1 & 9.

Exclusively Listed By

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