Private Investor Acquires Multifamily Building In Jersey City For $1.025M With Chris Cervelli's Representation

A six-unit multifamily building located at 65 Martin Luther King Jr. Drive in Jersey City was sold for $1,025,000. The property generates approximately $82,000 in net income, with each unit priced at an average of $170,833.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,025,000
• Units: 6
• Price Per Unit: $170,833
• Market: Jersey City
• Broker: Chris Cervelli - Cervelli Real Estate & Property Management

Chris Cervelli, representing the interests of the buyer, facilitated the acquisition highlighting the investor demand for small, stable multifamily assets that provide predictable cash flow.