718 W Side Avenue, Jersey City, NJ 07306
718 W Side Avenue, Jersey City, NJ 07306,Video Tour
718 W Side Avenue, Jersey City, NJ 07306
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Steven Pagan

Steven Pagan

+1(609) 631-5668
$899,900
Est. payment /mo
6 Beds
4 Baths
4,400 SqFt
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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

Mixed-Use Investment Opportunity - Prime Jersey City Location 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 60% 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 $6,075/month ($72,900 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 - $2,600/month, it's going to be a deli, 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 $6,075/month with current total rent is $72,900 but should be $7,600/month with pro forma prospective rent is $91,200! Current NOI is $55,500 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 because 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

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

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Monmouth Ocean MLS (MOMLS)
Listed by RE/MAX Central

Nearby Locations

Steven Pagan

Our passion for real estate and love for New Jersey are a perfect match. We have made it our mission to help local residents sell their homes quickly and at the best possible prices, and  homebuyers in finding their perfect piece of paradise in New Jersey. 

+1(609) 631-5668

steven.pagan@thepagangroup.com

90 Tanner St, Haddonfield, NJ 08033-2419, USA

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