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Multifamily

77 W 47th St, Bayonne

77 W 47th St, Bayonne, NJ 07002

Listing Price: $1,595,000

Cap Rate
5.93%
Number of Units
8
Price/Unit
$199,375
Price/Gross SF
$220.00
Gross SF
7,250

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale an 8 unit multifamily building in Bayonne, New Jersey. The property has a great unit mix of one, two and three bed/2 bath apartments. The building contains one duplex which was originally two separate apartments and can be converted back. Seven out of the eight apartments are currently free market and have been permanently decontrolled. The current owner has kept the property in excellent shape with little to no deferred maintenance for the last 20+ years. The building has been recently upgraded with a new rubberized roof, water heaters, furnaces and welding work to the fire escape. Tenants are responsible for heat, hot water, cooking gas and electric. Each apartment has it’s own furnace and water heater located in the basement. The property is an 8 minute walk to the 45 St light rail station with a direct route to exchange place in downtown Jersey City in 14 minutes and an additional 20 minute trip to get into NYC. 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. 77 W 47th Street has direct access to Interstates Interstate I—95, Interstate – 78, and Route 1 & 9.

Investment Highlights

  • Attractive Going in Cap Rate of 5.93%
  • 15% Upside from the Current Rent
  • 7 out of 8 Apartments are Free Market
  • One Unit is a Duplex that can be Converted to Two Separate Apartments

Exclusively Listed By

Multifamily

77 W 47th St, Bayonne

Listing Price: $1,595,000

Cap Rate
5.93%
Number of Units
8
Price/Unit
$199,375
Price/Gross SF
$220.00
Gross SF
7,250

Investment Highlights

  • Attractive Going in Cap Rate of 5.93%
  • 15% Upside from the Current Rent
  • 7 out of 8 Apartments are Free Market
  • One Unit is a Duplex that can be Converted to Two Separate Apartments

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale an 8 unit multifamily building in Bayonne, New Jersey. The property has a great unit mix of one, two and three bed/2 bath apartments. The building contains one duplex which was originally two separate apartments and can be converted back. Seven out of the eight apartments are currently free market and have been permanently decontrolled. The current owner has kept the property in excellent shape with little to no deferred maintenance for the last 20+ years. The building has been recently upgraded with a new rubberized roof, water heaters, furnaces and welding work to the fire escape. Tenants are responsible for heat, hot water, cooking gas and electric. Each apartment has it’s own furnace and water heater located in the basement. The property is an 8 minute walk to the 45 St light rail station with a direct route to exchange place in downtown Jersey City in 14 minutes and an additional 20 minute trip to get into NYC. 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. 77 W 47th Street has direct access to Interstates Interstate I—95, Interstate – 78, and Route 1 & 9.

Exclusively Listed By

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