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113-115 AVENUE, CITY, NJ

PRIME LOCATION | NEWER CONSTRUCTION | 6 APARTMENTS

INVESTMENT HIGHLIGHTS

PROPERTY INFORMATION Asking Price: $2,050,000 STABILIZED OPPORTUNITY Property Address 113-115 Wales Avenue, Jersey City, NJ • The property currently has an effective gross income of $163,709 and a 5.70% cap rate with future upside. Block / Lot 9202 / 7 & 8 Lot Size 5,780 Sq. Ft. DIRECT ACCESS TO NEW CITY Net Rentable Sq. Ft. 8,000 Sq. Ft. • The property is located an approximate 12 min walk from Square Number of Apartments / Parking 6 Apartments / 4 Garages Transportation Center Net Operating Income $116,895 • 11-min. ride to the World Trade Center Cap Rate 5.70% • 23-min. ride to Midtown Manhattan • Journal Square Transportation Center includes a bus terminal with a Real Estate Taxes* $26,845 28-minute ride into the Manhattan *Five year step up abatement through 2022 PRIME LOCATION BUILDING HIGHLIGHTS • Located in Journal Square • New 2015 construction • 15 minutes to NYC and minutes from Historic Downtown Jersey City • Nice unit mix of two bed and three bed apartments • Residents have quick access to key employment centers of Manhattan • Four garage parking spaces in the back of the building • Minutes from the Holland , Lincoln Tunnel and GW Bridge • Granite counter tops, washer and dryer in unit and stainless steel appliances • Easy access to Garden State Parkway, I-95, I-78, Route 1&9 and more • Tenants are responsible for utilities • Situated closely to Newark, JFK and La Guardia Airport • Landlord is responsible for Water, sewer and common area electric • Walkable distance to restaurants, theaters and many national retailers

UNIT MIX BREAKDOWN

UNIT TYPE # OF UNITS AVG. SF AVG. RENT 2 Bed/1 Bath 2 1,000 $1,910 3 Bed/2 Bath 4 1,500 $2,499 Totals/Averages 6 1,333 $2,303

FAHRI OZTURK RICHARD GATTO DAVID FERBER, CPA First Vice President Investments First Vice President Investments Associate Investments [email protected] [email protected] [email protected] 201.742.6170 201.742.6137 201.742.6129 Journal Square Transportation Center 113-115 WALES AVE, JERSEY CITY

12 Min. 11 Min. 23 Min. average walk to average ride to average ride to Journal Square World Trade Center Midtown Manhattan Transportation Center

113-115 WALES AVE

Journal Square Bus Terminal

Approx. 10-minute walk

Journal Square Transportation Center 12 Min. 28 Min. average walk to average ride to Journal Square Midtown Manhattan Bus Terminal

LOCATION INFORMATION

6 Miles 12 Min. New York Penn Station walk to Journal Square Transportation Center 6.2 Miles Port Authority Terminal 11 Min. 23 Min. 11 Miles ride to ride to Newark Liberty Airport World Trade Center Midtown Manhattan

FAHRI OZTURK RICHARD GATTO DAVID FERBER, CPA First Vice President Investments First Vice President Investments Associate Investments [email protected] [email protected] [email protected] 201.742.6170 201.742.6137 201.742.6129