MLS# : 240006990
Welcome to 816 Pavonia, a newly renovated 3 story 2 family property located in the prime JSQ area within redevelopment zone 4, as well as opportunity zone, and at a 6 minute walk to Journal Square Path. This fully rented two family home features 8 Bedrooms, 3 Kitchen, 3 Full Bathrooms including a fully finished Basement. Three electric & gas meters, three separate boilers/water heaters, three-zoned furnace, and window AC in all rooms. Non-historic, no known environmental issues, 25' x 100' lot, offering huge opportunity for a new development of individual condominiums or 8 – 9 rental units on a 4 story new construction building. Pavonia Ave is surrounded by 20+ story tower buildings, some under construction and some recently approved by the planning board. Over 1200 units planned and approved on 808 Pavonia coming right behind the property. Huge potential for our developers/investors looking to turn this into a luxury single family home with home office while overseeing their neighboring development projects. Owner occupants, move into one of the units in this turn key property while collecting rent from the other unit. For Cash Flow investors, sub-metered property is fully rented with pro-forma rents of $99,600 in gross annual income and NOI of approx. $87,000 and 5.7% CAP. Be a part of this hustle bustle before it turns into Midtown of Jersey City!
This listing is a courtesy of EXP REALTY LLC
866-201-6210 office, listing agent MINNI CHALANA
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 |
Average Price* (12mo): | $627,653 |
Apatments Sold* (12mo): | 962 |
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 |
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All information deemed reliable but not guaranteed. Last date updated: 05/03/2024 00:05 AM
Source: New Jersey Multiple Listing Service, Inc.
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General Tax Rate is used to determine the amount of real estate tax levied upon a particular property. This rate is used to compute the tax bill.
Effective Tax Rate is used to compare of one district to another district based on the assumption that all districts are at 100% valuation. This rate has been computed by the State of New Jersey Department of the Treasury using County Equalization Average Ratios. This rate is NOT to be used to compute the tax bill.
Data Source: US Census 2010, NJ MLS, State of New Jersey Department of the Treasury
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