Kennedy Blvd & Fairview Apartments
2555, 2540-50 & 2554-60 John F Kennedy Blvd, Jersey City, NJ 07304OVERVIEW
The Affordable Housing Group is pleased to present the opportunity to acquire the Jersey City Portfolio, consisting of two 100% HAP affordable housing properties located in the McGinley Square neighborhood of Jersey City, NJ.
The portfolio consists of two properties. Kennedy Blvd is a senior 211-unit 100% HAP building with one non-section 8 two-bedroom superintendent unit. Fairview is a 100% HAP family 145-unit building with one non-section 8 two-bedroom superintendent unit.
The properties are debt free and eligible for new financing. Both properties benefit from 100% 5-year Renewal HAP contracts scheduled for renewal and mark-up-to-market on December 1, 2022, and February 1, 2023.
You will be emailed a link from BOX.com to access the due diligence items after signing the confidentiality agreement. If you are having issues accessing documents please reach out to Elisa Seccia at
elisa@national-ahg.com.
Investment Highlights
Location
Jersey City/Journal Square area
High Density Urban Infill Location
First Time on the Market
value
100% HAP; 5-Year Contracts to be Renewed on 12/1/2022 & 2/1/2023
Portfolio of 212 Senior Units & 146 Family Units
Includes 3 Commercial Spaces
Opportunity
Opportunity for Rehab and LIHTC Syndication
Tax Abatement Available
Opportunity to Reduce Total Expenses by $3,189 per Unit and $4,506 per Unit
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INVESTMENT ADVISORY TEAM
John L Nguyen
Primary Listing Agent
Affordable Housing Group
- DIRECT: 714-356-5049
- MOBILE: 949-497-9100 x1
- EMAIL: john@national-ahg.com
- LIC NO.: 01303273
Jesse Elsanhuty
Primary Listing Agent
Affordable Housing Group
- DIRECT: 562-320-3614
- MOBILE: 949-497-9100 x2
- EMAIL: jesse@national-ahg.com
- LIC NO.: 01773542
Jennifer Stein
Broker of Record
JDS Services
- DIRECT: Call primary listing agent
- EMAIL: Eall primary listing agent
- LIC NO.: 471018303