Sip Avenue Portfolio
- Irreplaceable Location
- Stability With Upside
- Proven Rental Market
Property Description
As exclusive agent, Cushman & Wakefield is pleased to offer a 100% Fee Interest in 55 Corbin Avenue and 252-254 Sip Avenue, Jersey City, a 52-unit multifamily portfolio for sale. The asset consists of two adjacent buildings totaling 52 residential units at the corner of Northeast corner of Sip Avenue and Corbin Avenue, walking distance to the Journal Square PATH Station. Currently, average rents across the portfolio are just over $1,200 per month, representing approximately 37% rental upside when marked to a market rent. This offering represents the opportunity for an investor to acquire a highly desirable multifamily asset, add value to the units as tenants roll over, and reset units to a market rate and increase cash flow for the asset.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Lot Size: | 52.00 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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