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This multi-property package in The Heights neighborhood of Jersey City offers multifamily investors an unmatched opportunity to add to their portfolios.
Situated on a combined 40’ x 77’ corner lot, this package includes two adjacent 3-family buildings – 130 and 132 Griffith Street – offering investors six spacious 2-bedroom, 1-bath units.
These two well-maintained, recently updated buildings present a turnkey investment opportunity. With modernized heating, hot water, and electrical systems already in place, the new owner can enjoy peace of mind and minimal immediate maintenance concerns.
Beyond its generous layout and highly desirable Jersey City location, this property presents a unique combination of immediate cash flow and long-term upside. Currently generating $140,376 in gross annual income with no rent control, the property offers ample opportunity to increase returns, with a projected gross income of $222,000 through lease turnover and strategic renovations.
Two private parking spots add to the value and rental appeal, while the absence of rent control allows investors the flexibility to modernize interiors and boost rents over time.
With a projected 6.38% cap rate achievable post-renovation, this asset is well-positioned for stable yield and future appreciation.
134 Griffith Street is also available and could be combined to make a three-building portfolio package.
Set in one of Jersey City’s most dynamic neighborhoods – just minutes from Hoboken, Downtown JC, Journal Square, Weehawken, and NYC – the property benefits from strong demand, consistent growth, and a central location surrounded by transit options, shops, and trendy restaurants like Corto and Bread & Salt. Residents are also a short stroll from the popular Riverview Farmers Market, held on Sundays, featuring fresh produce, eggs, meats, prepared food vendors, and more. For commuters, Hoboken’s 2nd and 9th Street Light Rail stations, NJ Transit buses, and nearby access to Route 9 provide seamless connectivity to Manhattan and beyond.
130-132 Griffith Street is listed for $2,175,000. Financials, rent rolls, and additional documentation are available upon request.
For more information or to arrange a viewing, please contact Gilli Axel of Compass at [email protected] or 917.582.3181.
Listing: 130-132 Griffith Street, Jersey City
Asking: $2,175,000
Brokerage: Gilli Axel of Compass
