2-4 Family Home For Sale in Jersey City, NJ
MLS# : 24011688
PROPERTY DETAILS
PROPERTY DESCRIPTION
**Income-Producing Multi-Family Opportunity with Development Potential** Located on bustling Summit Avenue, this versatile property offers an incredible investment opportunity. Currently configured as an income-producing multi-family with split utilities, the property features bounce units ideal for owner-occupants or the potential to tear down and develop into condos. **Prime Location** Situated near transportation hubs, restaurants, parks, and all the amenities Summit Avenue has to offer, this property is in the heart of the action. **Parking and Garage** The property boasts ample parking with 5 spots in the front and a convenient 2-car detached garage in the back, providing added convenience and value. **Under Market Rent** Currently collecting under market rent, there is potential to increase income immediately. **Development Potential** With its flexible layout and development-friendly location, this property presents a rare chance to capitalize on the booming real estate mar
Amenities
Close/Parks, Close/School, Close/Trans, Close/Wrshp
This listing is a courtesy of Coldwell Banker, Hoboken
(201) 212-5026 office, listing agent Jill Biggs
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% |
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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 |
