331 Baldwin Ave, Jc, Journal Square, NJ 07306

Property Description

Brick multifamily property in Journal Square generating approximately $188,702 in current NOI. Cap rate at 6.9%, consisting of 9 units across four stories plus a high ceiling basement on an approximately 32.79 x 94.49 lot, with a building footprint of approximately 32.79 x 77. Future opportunities may include renovation, condominium conversion, duplexing the lower units with the basement, and the potential addition of up to two stories, subject to buyer due diligence and municipal confirmation. The property may also be delivered fully vacant, offering added flexibility for a future repositioning strategy. Situated within the Journal Square 2060 zoning area. 10 minutes walking from JSQ PATH and other transportation services to surrounding areas and Manhattan. This offering presents a rare combination of current cash flow, scale, and significant future upside.