Commercial space For Sale in Jersey City, NJ
MLS# : 250014293
PROPERTY DETAILS
PROPERTY DESCRIPTION
Unique Investment Opportunity: Two adjacent, fully free-market 3-family buildings located in the heart of Jersey City Heights, one of the area’s most desirable and rapidly appreciating neighborhoods. Highlights: ***6 Spacious 3-Bedroom / 1-Bath Units***No Rent Control – Capture full upside on future leases***Renovate to Achieve a Projected 7% Cap Rate ***Strong Location – Minutes to Hoboken, Downtown Jersey City, Weehawken & NYC***Combined Basement & Yard SpaceS***Not Railroad Style Layouts – Highly desirable floor plan***Current Gross: $155,160 ***Potential Gross: $244,800****This is a rare chance to acquire two side-by-side buildings with no rent restrictions, in a thriving neighborhood with strong rental demand. With targeted CapEx, investors can reposition the asset and drive rents to market, delivering significant yield growth and long-term appreciation.
Amenities
This listing is a courtesy of MODERN SPACES NJ LLC
201-975-3887 office, listing agent JESSE TOLEDANO
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 (2023): | 2.246% |
| Effective Tax Rate (2023): | 1.944% |
| Compare To Other Towns |
Jersey City Market Indicators
PRICE INDEX
| Average Price* (12mo): | $728,663 |
| Homes Sold* (12mo): | 232 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $671,552 |
| Apatments Sold* (12mo): | 1,098 |
APARTMENT SALES
Jersey City, NJ
REAL ESTATE TAXES
| General Tax Rate (2023): | 2.246% |
| Effective Tax Rate (2023): | 1.944% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $349,900 - 3,750,000 | 62 |
| Condos : | $195,000 - 4,148,000 | 518 |
| Co-ops : | $400,000 - 1,000,000 | 8 |
| Twnhs : | $369,000 - 2,099,000 | 14 |
| 2-4 Fam : | $425,000 - 3,495,000 | 121 |
| 5+ Fam : | $1,250,000 - 1,650,000 | 2 |
| Land : | $299,000 - 7,500,000 | 23 |
| Rentals : | $1,750 - 16,500 | 38 |
| Mixd Use : | $649,999 - 1,650,000 | 5 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $60,000 - 550,000 | 5 |
