186 188 Kensington Ave, Jersey City, New Jersey, United States

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Home For Sale

$5,500,000

186 188 Kensington Ave
Jersey City, New Jersey, United States

20bd 20ba

Listed By: Realtyww Info

Listed On: 06/22/2023

Listing ID: GL9925160 View More Details

Description

Remarkable new construction multifamily opportunity with stunning views of Lincoln Park, in the prime location of Jersey City. 186 - 188 Kensington is a Class A, low maintenance, high CAP, fully stabilized/100% leased asset, comprising of 12 condominium quality construction units, on approx. 5, 000 SQFT of land, ready for its ownership. Elevator, Rooftop, Garage Parking, Sprinkler Systems, Camera Security, Secured key-fob access, Generator, In-unit and On-site Laundry, In-unit Central AC and tankless Hot Water Boilers, Sub-Metered Utilities, European Cabinetry, Samsung Appliances, Quartz Countertops, Hardwood flooring, Private backyards and much more. Location is excellent for NYC commuters. Bus 119 at JFK and Kensington Ave, at a 5 mins walk, takes you directly into NY Port Authority Bus Terminal. Enjoy the ride at Lincoln Park with Citibike located around the block. Be a part of the Journal Square community, the fastest redeveloping area with most new development projects planned throughout Jersey City. Great investment for 1031 exchange investors, low risk over hospitality and office/retail investment, with consistent cash flow and low vacancy. Asset is currently generating a scheduled gross income of $349, 350.00 including apartments and parking, with a pro-forma SGI income of $383, 460.00 in 2024 and 5.32% CAP. Existing maintenance contracts and leases can be transferred. Seller's Current Mortgage at 5.75% is assumable, LLC can be transferred or members can be added. Call for more details!

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Listed by: Exp Realty Llc