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The dream scenario for any investor is now a reality: A Downtown Jersey City apartment building with parking and a popular ground-floor restaurant is for sale. 357 7th Street is a charming, red brick, corner property with classic exterior cornices and window lintels. The mixed-use multi-family boasts an amazing Cap Rate and offers a rare opportunity in the heart of Downtown Jersey City.
357 7th Street has four renovated two-bedroom/one-bath units, featuring modern finishes and eye-catching details like hardwood floors, exposed brick, crown molding, and recessed lighting. The market-rate apartments carry a great rent roll and the City of Jersey City just approved an additional unit can be added for a total of five market-value apartments for rent.
Each unit includes a full-size washer and dryer and every apartment conveniently has its own air conditioning, boiler, hot water tank, and electric/gas meter.
357 7th Street also has four parking spots — an enviable urban perk and additional income.
And Delenio, the ground-floor Italian restaurant, is a neighborhood favorite with lovely outdoor seating and a long lease.
This stunning property is ideally situated in Downtown Jersey City, nestled between Newark Avenue and Hamilton Park, with cafes, bars, restaurants, shops, and services, as well as the PATH train, nearby, making 357 7th Street both an ideal investment and place to call home.
357 7th Street sits on a corner 25X100 lot and is asking $2,350,000. And the most recently recorded taxes were $16,141.
For more information and to schedule a showing, please contact Mark Trompeter at [email protected] or 917-355-1329.
Listing: 357 7th Street
Agent/Brokerage: Mark Trompeter/The Trompeter Group