718 W Side Avenue Jersey City, NJ 07306
6 Beds
4 Baths
4,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiple Buildings
Listing Status Active
Purchase Type For Sale
Square Footage 4,400 sqft
Price per Sqft $204
Municipality Jersey City (JER)
MLS Listing ID 22616448
Bedrooms 6
Full Baths 3
Half Baths 1
Annual Tax Amount $13,356
Tax Year 2025
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 20 x 100.46
Property Sub-Type Multiple Buildings
Source MOREMLS (Monmouth Ocean Regional REALTORS®)
Property Description
Exceptional value-add mixed-use investment featuring three units consisting of one street-level retail space and two spacious residential apartments. The commercial storefront offers approximately 1,100 square feet, 1.5 bathrooms, excellent street visibility, storefront access, and rear yard access. Previously operated as a juice bar and approved for a RETAIL LOCATION (buyer to perform their own due diligence regarding zoning and permitted uses). The residential component consists of two 3-bedroom, 1-bath condos, both currently occupied on month-to-month leases, providing immediate cash flow with substantial upside potential. Current rents are below market, offering investors a strong opportunity to increase income and maximize returns as a value add proposition.
Property features separate gas, electric, and water meters, with landlord currently paying water and sewer expenses. The retail tenant is responsible for 40% of the water and sewer charges. Additional highlights include a huge walkout basement, separate heating systems, natural gas heat, hot water baseboard heating, maintained roof, replaced hot water heaters, updated furnaces, and brand-new 3-phase electrical panels. The retail space also features a 9-foot drop ceiling and central air conditioning.
Current monthly income is approximately $5,875/month ($71,000 per year) with a projected pro forma of approximately $7,500/month ($90,000), making this an ideal opportunity for investors seeking both stable income and future growth. Conveniently located near shopping, transportation, restaurants, and major commuter routes.
Property Highlights:
Mixed-use building with 1 retail and 2 residential units
Retail storefront approximately 1,100 SF
Two 3-bedroom, 1-bath apartments
Separate utilities and meters
Natural gas heat
Central air in retail space
Huge walkout basement
Maintained roof and major mechanical updates
New 3-phase electrical service
Strong value-add rental upside
Excellent owner-user or investment opportunity
Utilities paid by tenants
A rare chance to acquire a cash-flowing mixed-use asset with significant upside in a high-demand location.
718 W Side P&L:
Juice bar - vacant currently but potential tenant about to be leased out to at $2,600/month, it's going to be a deli supermarket
2nd floor - $1,800/month due for increase (should rent for $2,500/month)
3rd floor - $1,625/month due for increase (should rent for $2,500/month)
Current rent is $6,025/month with current total rent is $72,300 but should be $7,600/month with pro forma prospective rent is $91,200!
Current NOI is $55,000 which is a 6.1 CAP at $900,000 acquisition! Prospective CAP is 8.2
The residential rent has been kept at a low payment bc they have been there for a long time
They are way over due for rent increases and current rent for a 3 bedroom and 1 bath 1100 sq ft should be $2,500+/month
ALSO, CAN BE PURCHASED AS A PACKAGE DEAL FOR ALL 3 BUILDINGS INCLUDING 266 DUNCAN, 718 W SIDE, AND 722 W SIDE ALL IN JOURNAL SQUARE!
Location
State NJ
County Hudson
Area None
Building/Complex Name None
Direction 718 W Side Ave, Jersey City, NJ 07306
Rooms
Basement Walk-Out Access, Full
Interior
Heating Baseboard
Cooling Multi Units
Exterior
Private Pool No
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 06-16401-0000-00070
Virtual Tour https://www.zillow.com/view-imx/4600af6c-887f-4648-a332-0a82c63661d5?wl=true&setAttribution=mls&initialViewType=pano
