442 Broadway

Description

Calling all investors! This is an incredible opportunity to purchase a 4,210-sq-ft mixed use property (one commercial, two residential units) in Bayonne, located in a prime commercial district on Broadway, just one block from the 22nd st Light Rail station. It offers an estimated cap rate of 7.6% in its current condition! Purchase it for immediate rental cashflow or as a terrific house-hack for owner-occupants. Unit 1 is zoned for commercial use and is occupied by a spa on a lucrative multi-year lease with built-in annual rent increases. It features central air, half bath, and a shower room. The two spacious residential units above have very similar layouts and are in similar condition " both feature two very large bedrooms on opposite sides, eat-in-kitchen, one full bathroom, and an additional dining area. Unit 2 is currently vacant, offering the next buyer some flexibility " rent as is to immediately boost rental income, renovate then rent to maximize monthly cashflow, or occupy and use income from the other two units to offset housing costs. Unit 3 is tenant-occupied and will NOT be delivered vacant. These types of properties rarely hit the market, especially with this size and location. It offers tremendous value to savvy investors looking to benefit from Bayonnes real estate boom. Dont miss out! Get in touch to receive more info on income and expenses and to potentially schedule a private viewing. Please do NOT GO DIRECTLY TO THE PROPERTY without an appointment. Square footage and taxes should be verified with the city independently. Sold strictly as is.