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This charming brownstone with four units and a shared backyard offers investors a solid long-term investment opportunity at a 5.5% cap rate. With a corporate lease in place, the building is fully occupied for the next five years – making for a seamless transition and reliable income from day one. Its central location, just steps from transportation, retail, and dining, adds to the property’s strong appeal and occupancy potential.
Thoughtfully redesigned and updated, this multi-family property combines modern conveniences with classic charm. There are seven spacious bedrooms and six bathrooms overall, with three different floor plans across the four units. The units welcome natural light via large windows, with bay windows overlooking the backyard, while brick accents elevate the open living spaces.
The refreshed kitchens offer stainless-steel appliances, modern cabinetry, and tiled backsplashes, while the bathrooms contain stylish vanities and tiles. The units are also outfitted with practical features, such as in-unit washer/dryers, which provide additional convenience to renters.
Unit 1 offers one spacious bedroom and one bathroom. The open concept design of this home features a unique layout with a flexible den, which could easily serve as an office or guest space.
Unit 2 encompasses two bright and airy bedrooms, plus one bathroom. This residence showcases an abundance of natural light and is enhanced by the tasteful finishes throughout.
Unit 3 and 4 both feature two bedrooms and two bathrooms. These units include en-suite options for extra privacy and comfort.
This 25’x100′ property has a large shared backyard. The spacious outdoor area is perfect for unwinding after a busy day or entertaining throughout the warmer seasons.
The brownstone is ideally situated on Wayne Street and is close to essential amenities in Downtown Jersey City. The location offers easy access to countless cafes, restaurants and shops, along with numerous transit options such as Grove Street PATH, Hudson-Bergen Light Rail and bus lines into Manhattan.
With a strong projected cap rate of 5.5% and four modern units, 55 Wayne Street is asking $2,999,000.
For more information or to arrange a viewing, please contact Megha Moza of Prominent Properties Sotheby’s International Realty at 978-606-6719 or [email protected].
Listing: 55 Wayne Street, Jersey City
Asking: $2,999,000
Brokerage: Megha Moza of Prominent Properties Sotheby’s International Realty
