$9,000,000
$899,900
900.1%For more information regarding the value of a property, please contact us for a free consultation.
722 W Side Avenue Jersey City, NJ 07306
6 Beds
1 Bath
4,400 SqFt
Key Details
Sold Price $9,000,000
Property Type Multi-Family
Sub Type Multiple Buildings
Listing Status Sold
Purchase Type For Sale
Square Footage 4,400 sqft
Price per Sqft $2,045
Municipality Jersey City (JER)
MLS Listing ID 22616449
Sold Date 10/02/26
Bedrooms 6
Full 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 - Fully Occupied Pizzeria Building with Significant Upside
Excellent opportunity to acquire a well-maintained mixed-use building featuring one established retail space and two large residential apartments in a strong rental market. The ground-floor retail unit is occupied by a successful pizzeria generating $3,600 per month with 3% annual rent increases, while contributing 70% of the building's water expense, providing stable and growing income. The residential portion consists of two spacious 3-bedroom, 1-bath apartments. One unit has been recently renovated and is currently vacant, offering immediate leasing potential with projected rent of $2,500+ per month. The second apartment is currently rented at $1,584 per month with an estimated market rent of approximately $2,700 per month, creating substantial value-add potential for investors.
The property has seen numerous improvements, including upgraded electrical service, a renovated bathroom, and updated residential finishes. The building is connected to a central fire and safety monitoring system and features three separate utility meters. Heat is currently paid by the landlord.
With strong in-place income, an established commercial tenant, and significant rental upside in the residential units, this property offers investors the opportunity to increase cash flow and maximize returns over time.
Property Highlights
Mixed-use building with 1 commercial unit and 2 residential units
Established pizzeria tenant paying $3,600/month
3% annual commercial rent escalations
Commercial tenant pays 70% of water expense
Two spacious 3-bedroom, 1-bath apartments
One renovated vacant unit ready for lease
Significant rental upside in residential units
Upgraded electrical service
Renovated bathroom and updated residential finishes
Central fire and safety monitoring system
Three separate utility meters
Strong value-add investment opportunity
Actual income is $91,000 per year with value add to $103,000+
A rare chance to own a cash-flowing mixed-use asset with a stable commercial tenant, renovated residential units, and substantial upside potential for increased income and long-term appreciation.
Location
State NJ
County Hudson
Area Heights
Building/Complex Name None
Direction 722 W Side Ave, Jersey City, NJ 07306
Rooms
Basement 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 06-16401-0000-00072
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Bought with NON MEMBER