Our Income Property of the day is in Heights section of Jersey City only approximately 1 mile west as the crow flies from say 13th & Hudson in Hoboken.  It’s a 6 unit residential building with brick all the way around.  The apartments have tile and wood floors.  Public transportation is just a few steps from this building and the rental history has been near perfect over the last 5 years and currently has an Annual Gross Income of $64,000.  On my way out today, I drove by the building and it looked in great exterior condition and after calling the sellers’ agent, found out the interior had extra large rooms, nice bathrooms, and in impeccable condition.  (He said you gotta see it to believe it so until I do, I’ll take his word for it)

So to not bore you, I will get to the details, and if you would like to see this property, please contact us for an immediate showing.  I do not think this one will last long in my opinion given the recent reduction in asking price to under $520,000.  The investment potential with this building looks good and may need a bit more due diligence, but comfortable in knowing that a deal can be had here.

Price:                                $520,000

Taxes:                              $7,772

Insurance:                     $3,700

Miscellaneous:            $5,000 (covers vacancy factor + minor repairs if necessary)

If you are a cash buyer, great!  If you are a financing buyer, the best Loan To Value (LTV) you will likely get on an investment building loan would b 65%, meaning you will need about 35% as a down payment plus your closing costs.  For the sake of this article, let’s assume your loan rate and terms are as follows:  5 Year Fixed Amortized over 30 Years with a interest rate of 5.75%.

 Taking the numbers above into consideration, here is what the banks and investor minds want to know:  Your annual income is $64,000 off rental income.  Your operating expenses which include our taxes, insurance, and miscellaneous comes to $16,472.  If you subtract your Operating Expenses from your annual income you get a Net Operating Income (NOI)of $47,528.  The $47,528 would be what you will take home in income before taxes per year.   If you divide your NOI by your purchase price of $520,000, you get a Capitalization Rate of nearly 9.2% a comfortable number for investors of multi-family investment buildings. 

If you are financing 65% of the $520,000 or $338,000 (principal amount after down payment), you will have a monthly debt service of about $2,220.  Your monthly income on the property of $5,333 will give you a monthly surplus income of $3,113 or annual income of $37,356.  After paying your operating expenses of $16,472, you are left with an annual Cash Flow of $20,884, almost a 20% annual return on your investment dollar for dollar. 

Now that I have you a little excited, get in touch with us and set up a showing.  This building would look good in your portfolio.  A great opportunity for Jersey City real estate

The Beacon is one of the only condominium complexes in Jersey City real estate that offers complimentary VIP Shuttle service pickup from the Grove Street or Exchange Place PATH Stations.

All BEACON Condos for sale & Rentals

All condos are designed meticulously with 10 foot ceilings, hardwood or terrazzo floors, and large windows where you can get tons of natural sunlight.  The Beacon Towers soar above most highrises in the area giving views of Upper Manhattan to the Verrazano, Statue of Liberty and phenomenal views of Hudson County’s Gold Coast.

See why NJREG is most experienced to assist in your real estate needs at The Beacon

Enjoy a refreshing recovery drink at the juice bar outside the fitness center where you may relax after a workout and have Wi-Fi access in the lounge area.  Meet your friends in the world class billiards room and discuss the day’s business events.  There is much, much more to see at The Beacon
                                                                                

For your private tour of The Beacon, please call us at 877-688-7582 and ask for Scott.  We will be happy to accomodate you and show you available Jersey City condos for sale.  If you’d like, search the MLS tool above for getting an idea on what is availalble today.  We have a variety of rental units as well in The Beacon so please do not hesitate to contact us for rentals.

Jersey City, NJ

View all Active Jersey City real estate for sale

Downtown Jersey City:  Newport, Paulus Hook, and Exchange Place

Historic Downtown:  Hamilton Park, Grove Street, Harsimus Cove, and Van Vorst Park

The Heights:  Western Slope, and Central Avenue Shopping Area.

Journal Square:  West Bergen/Lincoln Park and the Hudson Mall

Bergen Lafayette:  Communipaw Avenue, the artery between West Side with Liberty State Park, Greenville, which features Port Liberte and other upscale residentail neighborhoods. 

Downtown Jersey City has many attractive areas of real estate.  Newport and Exchange Place are redeveloped waterfront areas consisting mostly of high rise residential buildings, hotels, retail, and office buildings.  Newport is a planned mixed use community, made up of residential high rises, condo buildings, office buildings (JP Morgan Chase Building), a marina, schools, and plenty of hotels, restaurants, fine dining, nightlife, and other entertainment.  Located only a 5 minute light rail trip to downtown Hoboken, residents can live away from the nightlife density in Hoboken to live in a quieter residential community in Newport.  Don’t forget about the Newport Center Mall, Movie Theater, PATH station, and many other convenient locations. 

Exchange Place, which was the first part of the area to redevelop, built over the old Jersey City Penn Station, is now full of new real estate and is New Jersey’s side of busy business.

Journal Square is in the midst of real estate rehabilitation.  Journal Square is going to be the next big area of Jersey City.  Redevelopment plans for residential towers and retail should relate to the same redevelopment as to what occurred over in Newport.  To the north of the square on Newark Avenue lies India Square, where you can find over 100 Indian ran businesses.  This area is one of the largest Indian neighborhoods in all of New Jersey.  Saint Peter’s College  is located in this section, just 10 blocks south of Journal Square in the McGinley Square section of Jersey City. 

The West Bergen of Jersey City houses very diverse neighborhoods including Lincoln Park / West Bergen as well as the Marion Section, Society Hill, and New Jersey City University.  On the West Side you will find many different ethnic businesses from Filipino to Indian to West Indian which line the West Side Avenue. 

If you are interested in relocation or real estate related material for any area of Jersey City, please contact us for a consultation or relocation package.  We have plenty of additonal information, including the areas of The Heights, Bergen-Lafayette, and Greenville.

Our custom MLS/IDX search tool has been custom designed to be as user friendly as possible.  Please help yourself to all listings on the Hudson County MLS and if you prefer to be more criteria specific, please visit our ADVANCED MLS/IDX SEARCH.

If you would like additional information, please contact us for your request or to arrange a showing at a time convenient for you.  NJREG spends many resources making our website informative for you, the consumer.  We would value an opportunity to earn your business to assist in your real estate purchase.

To search other districts of Jersey City homes for sale, please visit our Jersey City District Page.

Listings below are for Greenville district of Jersey City.

Jersey City / Greenville real estate for sale     $000,000 – $250,000

Jersey City / Greenville real estate for sale     $250,001 – $500,000

Jersey City / Greenville real estate for sale     $500,001 – $750,000

Jersey City / Greenville real estate for sale     $750,001 – $1,000,000

Jersey City / Greenville real estate for sale    Over $1,000,000

                                  Advanced MLS/IDX Search

If you wish to request additional information or would like to set up an immediate showing, please contact us .  Our easy-to-use custom MLS/IDX search tool is a custom design.  We welcome any feedback to make it more user-friendly for you.  Please visit our ADVANCED MLS/IDX SEARCH to be more criteria specific.  We would value an opportunity to assist in your real estate needs.  NJREG are your Jersey City real estate Pro’s for all homes, condos, brownstones, and investment property.

To view other real estate listings in all other parts of Jersey City click here.

$000,000 – $300,000

$300,001 – $500,000

$500,001 – $700,000

$700,001 – $1,000,000

Over $1,000,000

ADVANCED SEARCH

Here, you may search for all real estate listings for sale in the Bergen-Lafayette district of Jersey City only.  For all other areas, see our Jersey City MLS/IDX page.  Be sure to CONTACT US for additional information or immediate or more convenient showing appointments.  We are your Jersey City Real Estate Pros!

See Bergen-Lafayette Active Listings in Jersey City below or visit our ADVANCED SEARCH.  If visiting our “advanced search” option, be sure to specify HUDSON MLS/IDX and for more specific criteria, please specify your “ownership type” located below the search button. 

$000,000 – $200,000

$200,001 – $400,000

$400,001 – $600,000

$600,001 – $800,000

$800,001 – $1,000,000

Over $1,000,000

Please note that although almost all listings are available through our custome MLS search, some listings are listed as PRIVATE therefore will not show.  Please contact us if you think that there is real estate in your criteria that is not showing.  We can get you further details.

Our MLS/IDX search tool is updated in real time and is updated daily.

700 Grove offers a plethora of amenities along with many other benefits. You can keep in shape by using the on-site fitness center, or just relax and renew yourself in the awe-inspiring and private courtyard. These benefits will make coming home a thing to look forward to.

All Active Condos for Sale & Rentals at 700 Grove

The development features Complete Fitness Center with the latest cardio and weight equipment, Elegant Entrance Lobby, Lounge, shuttle service, on-site garage parking, private landscaped courtyard and beautiful common areas.

For an exclusive showing in a building we know best, Contact Us  right away for a viewing.  Or, call Scott direct at 877-688-7582