2-4 Family Home For Sale in Jersey City, NJ
MLS# : 240006989
PROPERTY DETAILS
PROPERTY DESCRIPTION
Welcome to 347 Palisade, the most vibrant street of Jersey City heights! This newly constructed, 2005 built, cash flowing two family investment property, is excellent for buy and hold investors counting on appreciation or owner occupants looking to live in unit and rent another to off-set living expenses. This two Family income producing contemporary house offers three story living, two individual units (duplex on ground and 1st floor, second unit on the top floor), a total of nine bedrooms, five full bathrooms, two kitchen, two open-concept living and dining rooms, one garage parking(currently rented as storage) and a large backyard for year-round entertainment delight. The property is in excellent condition and generating a gross annual income of 101,040 USD with a potential upside. All utilities are paid by tenant(70% unit 1, 30% unit 2). Landlord pays taxes and insurance. Property sits on a 25' x 100' lot in RC2 zoning district on one of the prestigious blocks of the Heights section of Jersey City. Zoning allows for 4 story building.The house is surrounded by new construction condominium projects, which makes it great for developers looking for their next condominium project to add to their portfolio. Riverview Park, the Famous Franklin, the Supremo Food Market, Fox and Crow, all are at your doorsteps. Located at a walking distance of 8 mins to 2nd street Light Rail, 1 min to buses 84, 86, 87, 123, and 15 minutes drive to Midtown or Lower Manhattan (via Lincoln or Holland Tunnel respectively), makes it very convenient for the New York City and New Jersey Commuters! Where location meets the right price, this property is a gem in Jersey City Heights.
Amenities
This listing is a courtesy of EXP REALTY LLC
866-201-6210 office, listing agent MINNI CHALANA
About Jersey City, NJ Real Estate Market
Jersey City currently serves as a prime hub for distribution and transportation terminus for the Port of New York and New Jersey. Ever since the redevelopment of the Jersey City Waterfront happened, Jersey City became a major hub for banking and finance in the United States of America. All these developments in these years also resulted in the development of Hudson County real estate in the city.
Consisting of most of the parts of Ellis Island, Jersey City also surrounds Liberty City through its waters in the Upper New York Bay. Thanks to its proximity and easy connectivity to Manhattan, Jersey City is also considered the sixth borough of New York City. Jersey City has some of the earliest European settlements in North America, which played a crucial role in the development of various sections of the city.
| Population: | 267,345 |
| Total Housing Units: | 104,018 |
| Single Family Homes: | 36,684 |
| Apartments: | 67,334 |
| General Tax Rate (2021): | 1.603% |
| Effective Tax Rate (2021): | 1.402% |
| Compare To Other Towns |
Jersey City Market Indicators
PRICE INDEX
| Average Price* (12mo): | $638,157 |
| Homes Sold* (12mo): | 202 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $627,653 |
| Apatments Sold* (12mo): | 962 |
APARTMENT SALES
Jersey City, NJ
REAL ESTATE TAXES
| General Tax Rate (2021): | 1.603% |
| Effective Tax Rate (2021): | 1.402% |
Search
MLS#
MLS#
MLS#
MLS#
MLS#
MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $345,000 - 3,995,000 | 57 avail |
| Condos : | $220,000 - 4,148,000 | 371 avail |
| Co-ops : | $499,000 - 510,000 | 2 avail |
| Twnhs : | $399,000 - 1,699,000 | 16 avail |
| 2-4 Fam : | $380,000 - 3,995,000 | 119 avail |
| 5+ Fam : | $1,100,000 - 2,999,999 | 4 avail |
| Land : | $200,000 - 6,000,000 | 16 avail |
| Rentals : | $1,550 - 5,900 | 43 avail |
| Mixd Use : | $1,100,000 - 3,500,000 | 7 avail |
| Com S : | - | |
| Com L : | - | |
| Biz : | $65,000 - 1,250,000 | 9 avail |
