114 Neptune Ave

Description

Presenting 114 Neptune Avenue, a substantial 6-unit multifamily investment opportunity located in the dynamic Greenville section of Jersey City. Built in 1920 and sitting on a large 31x133 lot, this 4,908 square foot property combines historic charm with solid investment fundamentals, offering 6.5% Cap Rate. The building comprises six large apartments, typically featuring flexible railroad-style layouts that can function as spacious 2-bedroom or efficient 3-bedroom units. These "bright and airy" units have a history of strong occupancy due to their size and affordability relative to Downtown Jersey City. Recent improvements in select units ensure competitive rental rates while leaving room for future value-add cosmetic renovations to push the rent roll even higher. Ideally situated for commuters and students, the property boasts a "Very Walkable" Walk Score of 82. It is located just minutes from New Jersey City University (NJCU), making it a prime location for student housing or faculty rentals. For NYC commuters, the NJ Transit #81 and #6 buses stop just around the corner, connecting directly to the PATH and Exchange Place. The Hudson-Bergen Light Rail (Danforth Ave Station) is also easily accessible.