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2 MULTIFAMILY PROPERTIES | 54 UNITS | VALUE-ADD OPPORTUNITY

BAYONNE PORTFOLIO

DOWNLOAD OFFERING MEMORANDUM
102-106 JFK BLVD | 125-139 W 54TH ST

PORTFOLIO OVERVIEW

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LISTING PRICE

$10,850,000

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# OF APARTMENTS

54

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GROSS INCOME

$882,653

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UPSIDE

38%

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PORTFOLIO OFFERING SUMMARY
LISTING PRICE $10,850,000
CAP RATE 5.28%
GROSS INCOME $882,653
PORTFOLIO NOI $573,309
TOTAL PORTFOLIO SF ±39,950 SF
PROPERTY TYPE Multifamily
FREE MARKET UNITS 46/54
PORTFOLIO RESIDENTIAL UNITS 54

 

3-Apr-25-2023-08-34-48-4467-PM
1-Apr-25-2023-08-34-48-3513-PM
2-Apr-25-2023-08-34-48-2750-PM
2 multifamily properties

PROPERTY DETAILS

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102-106 JFK BLVD

  • RESIDENTIAL UNITS - 27
  • CAP RATE - 5%
  • TOTAL SF - ±18,450 SF
  • UPSIDE - 41%
  • 1 BED / 1 BATH - 21
  • 2 BED / 1 BATH - 6
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125-139 W 54TH ST

  • RESIDENTIAL UNITS - 27
  • CAP RATE - 5.50%
  • TOTAL SF - ±21,500 SF
  • UPSIDE - 34%
  • 1 BED / 1 BATH - 6
  • 2 BED / 1 BATH - 12
  • 3 BED / 1 BATH - 9
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VALUE-ADD OPPORTUNITY

  • 46 Free Market units
  • 38% Upside
  • 5.28% Current Cap Rate // 8.20% Proforma Cap Rate
  • $510+ Estimated Avg rent increase on turnover
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BUILDING HIGHLIGHTS

  • New rubber roof - 102-106 JFK
  • New Boilers - 125 W 54th St
  • All apartment doors & hallways painted
  • Tenants pay for heat, hot water, cooking gas & electricity at 125-139 W 54th St 
  • Tenants Pay for cooking gas and electric at 102-106 JFK Blvd
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CONVENIENT TRANSPORTATION

  • Each building is located an average 12-minute walk to a light rail stop with
    an average 30-minute trip into NYC
  • Each building also has a bus nearby with a direct trip to NYC
BAYONNE, NJ

LOCATION MAP

1@4x (5)
2@4x (2)
BAYONNE, NJ Listings

ADDITIONAL LISTINGS

675 JFK BLVD
Address 675 JFK Blvd, Bayonne, NJ 07002
Asking Price  $1,150,000
Number of Units  6
VIEW PROPERTY HERE
 
46 E 14TH ST
Address 46 E 14th St, Bayonne, NJ 07002
Asking Price  $1,500,000
Number of Units  7
VIEW PROPERTY HERE

 

DOWNLOAD OFFERING MEMORANDUM

EXCLUSIVELY LISTED BY:

DAVID FERBER, CPA
Associate VP & Director
 
License No. 110401336343 (NY)

 

BROKER OF RECORD
Ray Smith
License No. 8300337 (NJ)