Property Description

CORNER MULTI FAMILY ASSET IN THE HEART OF JERSEY CITY HEIGHTS WITH 37% UPSIDE IN RENTS.

3% RENTAL BUMPS APPROVED FROM CITY—$7,836 INCREASE IN GROSS RENTS, CAP RATE EXPANSION.

ONLY 25% OF THE BUILDING HAS BEEN RE-POSITIONED THUS FAR LEAVING SIGNIFICANT UPSIDE.

Address Map
Street Number:
995
Street:
Summit Avenue
Postal Code:
07307

995 Summit Avenue, Jersey City, NJ 07307

995 Summit Avenue, United States, New Jersey

14,252 Sqft
$4,250,000
Basic Details
Property Type :
Multi Family
Listing Type :
For Sale
Asking Price :
$4,250,000
Square Footage :
14,252 Sqft
Frontage :
100' on Bowers, 50' Summit 
Highlights :
  • Location: The Heights, Off Central Ave
  • Frontage: 100' on Bowers, 50' Summit 
  • Total Building Area: $14,252SF
  • Asking Price: $4,250,000
  • Estimated Gross Income: $377,439
  • Unit Mix: (1) 3 Bedroom (3) 2 Bedroom (19) 1 Bedroom (1) Studio
  • Taxes (2025): $57,197 (Under appeal expecting to drop 20%)
  • Expenses (2026): $78,961 (Electric, Gas, Water, Insurance, Management) 
  • Financing: Seller will hold up to $200k in financing
  • Notes: 3% Rent increases were approved by Jersey City Rent Leveling board for 2026
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