85 Zabriskie St
Listing Notes
Exceptional investment opportunity in the highly desirable Jersey City Heights section. This 8-unit multifamily property offers immediate cash flow with substantial upside through the renovation and repositioning of under-market units. Current gross rental income is approximately $169,700 annually, with the potential to increase to over $225,900 annually after renovating Units 2, 5, and 7. At an offering price of $2,700,000, the property is operating at an estimated 4.79% cap rate with the potential to achieve an estimated 6.87% pro forma cap rate. Investors will appreciate the strong rental demand, proximity to transportation, shopping, dining, and continued growth throughout Jersey City Heights.Property is being sold as-is. Buyer to perform their own due diligence regarding income, expenses, rents, permits, and future projections.
Price in context
Cheaper than 5% of the 19 homes listed nearby right now, which run $1,499,000 to $2,950,000.
See all 19 nearby listings
| Address | Asking | Size |
|---|---|---|
| 153 Bowers St Unit 1 | $1,499,000 | 3 bd · 3 ba |
| 26 Pierce Ave | $1,499,000 | 7 bd · 5 ba |
| 183 Thorne St | $1,525,000 | 12 bd · 6 ba |
| 54 Montrose Ave | $1,549,000 | 12 bd · 6 ba |
| 297 New York Ave | $1,550,000 | 5 bd · 3 ba |
| 272 Terrace Ave | $1,600,000 | 6 bd · 5 ba |
| 486 Central Ave | $1,600,000 | Studio |
| 895 Summit Ave | $1,650,000 | 4 bd · 3 ba |
| 98 Western Ave | $1,650,000 | 6 bd · 5 ba |
| 182 Columbia Ave | $1,695,000 | 8 bd · 5 ba |
| 91 Hancock Ave | $1,724,000 | 5 bd · 4 ba |
| 79 Sherman Pl | $1,750,000 | 7 bd · 6 ba |
| 189 Terrace Ave | $1,750,000 | 7 bd · 6 ba |
| 161A New York Ave | $1,900,000 | 8 bd · 6 ba |
| 368 Palisade Ave | $1,995,000 | 6 bd · 4 ba |
| 68 Thorne St | $1,999,999 | 6 bd · 5 ba |
| 26 Carlton Ave | $2,100,000 | 6 bd · 4 ba |
| 55 Reservoir Ave | $2,250,000 | 7 bd · 5 ba |
| 632-636 Tonnelle Ave | $2,950,000 | — |
Where it is
For sale Coming soon Recently sold— zoom out for more