1664, 1668, 1670 — John F. Kennedy Blvd. Jersey City, NJ 07305

Incredible opportunity to purchase a high cap (7) assemblage on Kennedy Blvd in Jersey City. Spanning almost the entire frontage on Kennedy Blvd between Lembeck and Pearsall this assemblage consists of 1664, 1668 and 1670 Kennedy Blvd.

1664 Kennedy Blvd is a 2 story mixed use building with 1, 2 bedroom 1 bath apartment and one vacant retail space which makes this an excellent opportunity for an owner that wants to own and not lease space while running its business.

1668 Kennedy Blvd is a single story 1,800 sqft, Class A, State licensed funeral facility. This building includes a chapel, viewing area, offices, and a morgue. The space was specifically built out as a funeral facility for the Jackson Funeral Residence of JC and is shared by Garret Family Mortuary. The Jackson Funeral Residence of JC is a 50+ year old multi-generational family business and is a cornerstone of the community. These tenants are on a long term lease and the new owner can expect stability because of the large capital expenditure to open a new facility and lack of space for an essential business like a funeral home.

1670 Kennedy Blvd is a 2 story mixed use building that consists of Offices for the funeral home and 2, 2 bedroom 1 bathroom apartments. It also has a driveway with 4 parking spots with accesses from Lembeck Ave.

Upon purchasing these 3 properties, the current owner, did significant cap ex and renovations, bringing the properties up to modern day standards and eliminating most, if not all deferred
maintenance. With separate utilities, most of the retail tenants carrying property insurance for their respective buildings and few needed repairs, this assemblage has an incredible expense ratio of 15% to gross income. With little maintenance, a high going in cap-rate and some upside in the residential rents with no rent control, this is the perfect high yielding, low effort turnkey investment.