122 STEVENS AVE, JERSEY CITY, NJ MIXED-USE BUILDING |8 APARTMENTS | 1 RETAIL | 5.55% CAP RATE NON-ENDORSEMENT & DISCLAIMER NOTICE

CONFIDENTIALITY & DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap. All rights reserved.

NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

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OFFICES THROUGHOUT THE U.S. AND CANADA www.marcusmillichap.com 122 STEVENS AVE

EXCLUSIVELY LISTED BY

FAHRI OZTURK First Vice President Investments OFFICE Tel: (201) 742.6170 [email protected]

RICHARD GATTO National Multi Housing Group NEW JERSEY OFFICE Tel: (201) 742.6137 [email protected]

DANIEL AVILES National Multi Housing Group NEW JERSEY OFFICE Tel: (201) 742.6148 [email protected] 01 INVESTMENT OVERVIEW Property Details Investment Highlights Demographics 02 122 STEVENS AVE PROPERTY MAPS & PHOTOS Property Maps Exterior Photos TABLE OF CONTENTS Interior Photos 03 FINANCIAL ANALYSIS Rent Roll Income and Expenses 04 PROPERTY TAX MAP & DEMOGRAPHICS Tax Map Zoning Map Demographics 122 STEVENS AVE

INVESTMENT OVERVIEW

S E C T I O N 01 PROPERTY Block & Lot 26401 / 21 Lot Dimensions 30X100 Lot Size 3,000 Sq. Ft. Property Taxes $15,815 Zoning R-1: Residential BUILDING Stories 3 Approx. Gross Building Size 7,500 Sq. Ft. Number of Apartments Units 8 Number of Commercial Units 1 Occupancy 88.8%

Tenant Responsibilities Electric, Cooking Gas, Heat & Hot water

EXECUTIVE SUMMARY 6 INVESTMENT HIGHLIGHTS

MIXED-USE OPPORTUNITY STABILIZED CASH FLOW • The property consists of 8 apartments and 1 retail unit. • The property has an effective gross income of $142,764 representing an • Located on the corner of Stevens Avenue and Martin Luther King Dr. 5.55% cap rate at asking price

CONVENIENT TRANSPORTATION CENTRAL LOCATION • The property is located approximately 2 miles from the Journal • 15 minutes to NYC and minutes from Historic Downtown Jersey City Square Transportation Center which offers a 15-minute ride to the • Residents have quick access to key employment centers of Manhattan World Trade Center and a 22-minute ride to Midtown Manhattan via Path • Minutes from the , Lincoln Tunnel and GW Bridge • Two-minute walk from JFK Blvd bus stop which offers a direct ride • Easy access to Garden State Parkway, I-95, I-78, Route 1&9 and more into the Manhattan • Situated closely to Newark, JFK and LaGuardia Airport. • Walkable distance to restaurants, theaters and many national retailers

INVESTMENT HIGHLIGHTS 7 INVESTMENT OVERVIEW

Marcus & Millichap has been selected to exclusively market for sale the 122 Stevens Ave, a three-story, brick, mixed-use building in

Jersey City, New Jersey. The building consists of 8 apartments and one retail tenant. The retail tenant has a 17-year lease that expires

in 2030.

The property is located approximately 2 miles from the Transportation Center which offers a 15-minute ride to the

World Trade Center and a 22-minute ride to Midtown Manhattan via Path. 122 Stevens Ave is also Two-minute walk from JFK Blvd bus

stop which offers a direct ride into the Manhattan.

Jersey City has earned a reputation as a city with ideal regional connectivity due to accessible public transportation. The successful

public transportation system has sparked new development opportunities in the city as several nearby apartment complexes have been

completed and are under construction. The new supply speaks to the value of the location and should continue to drive the local

economy which will ultimately push rents.

PROPERTY SUMMARY

Price $1,750,000

Block & Lot 264001 / 21

Number of Units 9

Lot Size 3,000 Sq. Ft.

Approx. Building Size 7,500 Sq. Ft.

Year Built 1920

Real Estate Taxes $15,815

EXECUTIVE SUMMARY 8 THE NEXT FRONTIER | GREENVILLE

Greenville rests at the southernmost point of Jersey City, an area lined with brownstones and multi-family residences. This Jersey City neighborhood lies within ten minutes of and is near a variety of local parks, cultural centers, and live music venues. Greenville has benefitted from the recent revitalization of Downtown Jersey City, and its proximity to Bayonne gives Greenville an edge over other neighborhoods. Renting a Greenville apartment places you near Manhattan -- but without the constant noise of living in the city. Greenville is quiet, beautiful, and a terrific neighborhood to call home.

EXECUTIVE SUMMARY 9 122 STEVENS AVE

PROPERTY MAPS & PHOTOS

S E C T I O N 02 IN CLOSE PROXIMITY Approx. Miles Port Authority Bus Terminal 5 Journal Square Bus Terminal New York Penn Station 6 Newark Liberty Airport 9

2 Miles 28 Min. Journal Sq. Ride to Transportation Manhattan

122 STEVENS AVE

Jersey City Transportation Center

2 Miles 30 Min. Jersey City Transportation Center Journal Sq. ride to 30 Min. To NYC Transportation Manhattan

PROPERTY MAP 11 PROPERTY AERIALS

PROPERTY PHOTOS 12 INTERIOR PHOTOS

PROPERTY PHOTOS 13 RETAIL SPACE

The Best Super Market Rent Schedule Lease Ending 2030 2019 $2,550.00 2020 $2,650.00 2021 $2,900.00 2022 $2,900.00 2023 $3,150.00 2024 $3,150.00 2025 $3,400.00 2026 $3,400.00 2027 $3,650.00 2028 $3,650.00 2029 $3,900.00 2030 $3,900.00

PROPERTY PHOTOS 14 MECHANICAL PHOTOS

PROPERTY PHOTOS 15 122 STEVENS AVE

FINANCIAL ANALYSIS

S E C T I O N 03 RENT ROLL

Commercial

Floor Tenant SF (Est.) Monthly Rent Annual Rent $/PSF

1 Best Market 1,000 $2,550 $30,600 $32

1,000 $2,550 $30,600 $32

Residential

Unit # Bedrooms SF (Est.) Monthly Rent Annual Rent $/PSF

1 1 Bed/1 Bath 650 $875 $10,500 $17

2(1) 2 Bed/1 Bath 800 $1,400 $15,000 $19

3 2 Bed/1 Bath 800 $1,271 $15,252 $20

4 2 Bed/1 Bath 800 $999 $11,988 $15

5 2 Bed/1 Bath 800 $1,271 $15,252 $20

6 2 Bed/1 Bath 800 $1,218 $14,616 $19

7 2 Bed/1 Bath 800 $1,063 $12,756 $16

8 2 Bed/1 Bath 800 $1,250 $15,000 $19

6,250 $9,347 $112,164 $18 (1) Vacant Total Commercial & Residential Income $142,764 $147,329

FINANCIAL ANALYSIS 17 RENT ROLL ANALYSIS

Actual Pro Forma # of Unit Type Units Avg SF Avg Rent Avg $/PSF Market Rent Avg $/PSF % Upside 1 Bed/1 Bath 1 650 $875 $16.15 $1,250 $23.08 43% 2 Bed/1 Bath 7 800 $1,210 $18.15 $1,400 $21.00 16% Commercial 1 1,000 $2,550 $30.60 $2,650 $31.80 4% Total 9 Total Upside 16%

$3,000

$2,500

$2,000

$1,500

$1,000

$500

$0

Avg Rent Market Rent

FINANCIAL ANALYSIS 18 INCOME & EXPENSES

CURRENT PRO FORMA

INCOME %EGI %EGI Gross Potential Income $142,764 $147,329 Less Vacancy & Credit Loss -$5,711 4% -$5,893 4% Other Income $1,408 $1,500 Effective Gross Income $138,461 $142,936 EXPENSES %EGI Per Unit %EGI Per Unit Property Taxes $17,696 13% $1,966 $18,050 13% $2,006 Insurance $3,229 2% $359 $3,294 2% $366 Water & Sewer $4,159 3% $462 $4,242 3% $471 PSE&G(1) $293 0% $33 $299 0% $33 Repairs & Maintenance $4,500 3% $500 $4,590 3% $510 Pest Control $1,200 1% $133 $1,224 1% $136 Superintendent $4,050 3% $450 $4,131 3% $459 Management Fee $4,154 3% $462 $4,237 3% $471 Legal & Accounting $1,100 1% $122 $1,122 1% $125 Reserves $1,000 1% $111 $1,020 1% $113 Total Expenses $41,381 30% $1,966 $42,208 30% $2,006 NET OPERATING INCOME $97,081 $100,727

(1) Common Area

FINANCIAL ANALYSIS 19 OFFERING SUMMARY

Summary Operating Data Current Pro Forma Price $1,750,000 Gross Potential Income $142,764 $147,329 Down Payment 22% $385,000 Less Vacancy & Credit Loss 4% -$5,711 4% -$5,893 Number of Units 9 Parking $1,408 $1,500 Price Per Unit $194,444 Effective Gross Income $138,461 $142,936 Price Per SqFt $280.00 Less: Expenses 30% $41,380.84 30% $42,208 Rentable SqFt 6,250 Net Operating Income $97,081 $100,727 Returns Current Proforma Cash Flow $97,081 $100,727 CAP Rate 5.55% 5.76% Debt Service $76,044 $76,044 GRM 12.26 11.88 Cash Flow After Debt Servicve 5.05% $21,036 5.92% $24,683 Cash-on-Cash 5.05% 5.92% Principle Reduction $26,452 $26,452 Total Return 11.40% $47,488 12.27% $51,135 Assumable In Place Financing Inputs Expenses Current Pro Forma Max LTV 78% Property Taxes $17,696 $18,050 Min DCR 1.20 Insurance $3,229 $3,294 Interest Rate 3.77% Water & Sewer $4,159 $4,242 Term 5 years PSE&G $293 $299 Amortization 30 years Repairs & Maintenance $4,500 $4,590 Debt Due Nov-2024 Pest Control $1,200 $1,224 Loan Sizing Superintendent $4,050 $4,131 Max Loan Amount $1,365,000 Management Fee $4,154 $4,237 Annual Debt Service $76,044 Legal & Accounting $1,100 $1,122 Reserves $1,000 $1,020 Other $0 $0 Total Expenses $41,381 $42,208 Expenses Per Unit $4,598 $4,690

FINANCIAL ANALYSIS 20 122 STEVENS AVE

PROPERTY TAX MAP & DEMOGRAPHICS

S E C T I O N 04 PROPERTY SURVEY

ZONING MAP 22 TAX MAP Block: 264001 / Lot: 21 Martin Luther King DriveLutherMartin King

122 STEVENS AVE

Stevens Avenue

ZONING MAP 23 ZONING MAP

122 STEVENS AVE

ZONING MAP 24 JERSEY CITY DEMOGRAPHICS 5- MILE RADIUS DEMOGRAPHICS

POPULATION 1-MILE 3-MILES 5-MILES 2023 Projection 75,025 384,355 1,306,186 2018 Population 75,448 367,748 1,259,129 $129,794 2010 Population 69,526 336,817 1,088,955 AVERAGE HOUSEHOLD INCOME

HOUSEHOLDS 1-MILE 3 - MILES 5 - MILES 2023 Households 29,359 159,032 606,889 2018 Households 28,930 148,885 576,490 2010 Households 26,516 135,283 534,628 1,259,129 TOTAL POPULATION INCOME 1-MILE 3 - MILES 5 - MILES 2018 Average Household Income $74,653 $112,623 $129,794 2018 Median Household Income $49,501 $72,772 $78,617 2018 Per Capita Income $28,926 $45,877 $59,928 576,490 TOTAL HOUSEHOLDS

DEMOGRAPHICS 25 122 STEVENS AVE

EXCLUSIVELY LISTED BY

FAHRI OZTURK First Vice President Investments NEW JERSEY OFFICE Tel: (201) 742.6170 [email protected]

RICHARD GATTO National Multi Housing Group NEW JERSEY OFFICE Tel: (201) 742.6137 [email protected]

DANIEL AVILES National Multi Housing Group NEW JERSEY OFFICE Tel: (201) 742.6148 [email protected]