182 Central Ave182 Central Ave, Jersey City, NJ 07307

Matthew RodrigueGreen Rock Realty LLC50 Harrison St,Hoboken, NJ 070306064mpr@thegreenrockgroup.com(201) 477-0820

Price: $3,100,000

No. Units: 10

Property Type: Multifamily

Property Sub-type: Apartments

Apartment Style: Mid Rise

Building Class: C

Sale Type: Investment

Cap Rate: 5.19%

Lot Size: 0.08 AC

Building Size: 11,484 SF

No. Beds: 10

No. Stories: 5

Year Built: 1910

Parking Ratio: 0/1,000 SF

Zoning Description: N/Av

182 Central Ave$3,100,000

***CLEAR MANHATTAN VIEWS / SKYLINE*** TheProperty was gut renovated in 2010 and underwent a$100,000 capital improvement program in 2017. Allunits consist of 3 bedrooms and 2 bathrooms withcondo level finishes including hardwood floors, stainlesssteel appliances, central a/c, 2010 all new mechanicals***separately metered***, controlled access, paved rearyard, in-unit washer/dryer and at below market rentsoffering significant upside through rent increases. Thisdowntown location is in the heart of Jersey City Heightswithin walking distance to grocery shopping,restaurants, shopping, recreation and publictransportation. The roof also produces income from alease with a national cellular company where theincome can either be sold off or kept for credit worthyrent. Pershing Square Park immediately across thestreet offers a newly renovated park, green space,baseball fields, a swimming pool, ice-skating rink andwater reservoir. All separately metered utilities for condoconversion upside.

10 Units***Large Floorplans***9 x 3 bedrooms and 1 x 2bedroom***2 blocks to Stop&Shop***Gut Renovation2010***Close to Transportation***UnobstructedPershing Park Views and Access (Park NewlyRenovated)***Condo Level Finishes***BELOW MarketRents***Attractive CAP Rate for exponentially growingsub-market***In-Unit Washer/Dryer***DowntownLocation in walking distance to all shopping,restaurants and entertainment***

Below Market Rents (Market Rents $2,100)9 x 3 Bedroom / 2 Bath Apartments 1 x 2 BedroomCondo Level Finishes Washer / Dryer In UnitSeparate utilities allow for Condo Conversion in Future Irreplaceable location across from Pershing Parkproviding unobstructed views and entertainmentLong Term Tenancy100% OccupancyAccess to transportation, restaurants, entertainment Attractive CAP Rate with Significant UpsideGUT Renovation 2010Large UnitsWell maintained and security features / controlledaccessCommon BackyardEasy Access to local and NYC Transportation

****MANHATTAN VIEWS****

***CLEAR MANHATTAN VIEWS*** The Property wasgut renovated in 2010 and underwent a $100,000 capitalimprovement program in 2017. All units consist of 3bedrooms and 2 bathrooms with condo level finishesincluding hardwood floors, stainless steel appliances,central a/c, 2010 all new mechanicals ***separatelymetered***, controlled access, paved rear yard, in-unitwasher/dryer and at below market rents offeringsignificant upside through rent increases. Thisdowntown location is in the heart of Jersey City Heights

Unit/Room Mix Information

Description No. Units Avg. Rent/Mo Sq. Ft

3+2 10 Negotiable N/A

2+2 10 Negotiable N/A

182 Central Ave, Jersey City, NJ 07307

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