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33-35 Storms Ave
Jersey City, NJ 07306 McGinley Square

$2,915,000 USD

Apartments For Sale  •  8,586 SF

Property Details

• Property Type Apartments
• Total Building Size 7,950 SF
• Lot Size 0.11 AC
• Building Class C
• Year Built 1925
• Cap Rate 6.00 %
• Zoning R-1

71 Transit Score

94 Walk Score

Highlights

12-unit value-add multifamily in McGinley Square, Jersey City, with 16% rental upside.

Offered at a 6.00% cap rate and $2,915,000 price, generating $174,886 NOI.

All units are free market and rent control exempt for maximum flexibility.

Renovated brick building with laundry and storage in basement for tenants.

Separately metered units; tenants pay cooking gas and electric, landlord pays heat and water.

6-minute walk to transit, 21-minute PATH train ride to Manhattan, prime commuter location.

Cap Rate:

6.00 %

Amenities

• Air Conditioning

Public Transportation

Commuter Rail	Drive	Walk	Distance
Journal Square (Journal Square-33rd Street - Port Authority Trans-Hudson (PATH), Newark Penn Station-World Trade Center - Port Authority Trans-Hudson (PATH))	4 min	18 min	0.9 mi
Grove Street (Journal Square-33rd Street - Port Authority Trans-Hudson (PATH), Newark Penn Station-World Trade Center - Port Authority Trans-Hudson (PATH))	5 min	-	1.8 mi
Transit/Subway	Drive	Walk	Distance
Garfield Avenue (West Side Avenue-Tonnelle Avenue - Hudson-Bergen Light Rail (Hudson-Bergen Light Rail))	3 min	17 min	0.9 mi
Journal Square (Journal Square-33rd Street - Port Authority Trans-Hudson (PATH), Newark Penn Station-World Trade Center - Port Authority Trans-Hudson (PATH))	3 min	17 min	0.9 mi
Martin Luther King Drive (West Side Avenue-Tonnelle Avenue - Hudson-Bergen Light Rail (Hudson-Bergen Light Rail))	3 min	20 min	1.0 mi
Airport	Drive	Walk	Distance
Newark Liberty International	13 min	-	8.7 mi
LaGuardia	33 min	-	14.4 mi
John F Kennedy International	42 min	-	22.6 mi