2-4 Family Home For Sale in Jersey City, NJ
MLS# : 250018137
PROPERTY DETAILS
PROPERTY DESCRIPTION
Prime Lafayette development opportunity. This property is a complete gut renovation and currently configured as a two-family, offering a rare opportunity for developers or investors to create value in one of Jersey City’s fastest-growing neighborhoods. The home is detached on one side and allows for converting into a one or two-family with two duplexes without a variance. Similar properties in the neighborhood have also been approved for four-family use, and there is the added option to build a 30-foot rear extension without a variance—maximizing space and potential. With the possibility to convert into two condominiums, the site presents a strong development opportunity in the desirable Lafayette neighborhood. Ideally located near the Light Rail, Liberty State Park, Liberty Science Center, and with easy transportation access to NYC, this property is surrounded by some of Jersey City’s favorite dining spots including Harry’s Daughter, Roxy, Mordi’s, Pinwheel, and Grind Coffee Shop. Bring your contractor and vision—this project offers significant upside in a thriving market.
Amenities
This listing is a courtesy of CORCORAN SAWYER SMITH
201-653-8000 office, listing agent LEDA DUIF
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): | $736,588 |
| Homes Sold* (12mo): | 219 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $679,503 |
| 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 - 3,495,000 | 66 |
| Condos : | $189,000 - 4,048,000 | 494 |
| Co-ops : | $418,000 - 529,500 | 2 |
| Twnhs : | $369,000 - 2,099,000 | 15 |
| 2-4 Fam : | $400,000 - 3,600,000 | 125 |
| 5+ Fam : | $1,650,000 - 1,650,000 | 1 |
| Land : | $85,000 - 7,900,000 | 20 |
| Rentals : | $1,725 - 5,250 | 38 |
| Mixd Use : | $949,000 - 1,650,000 | 4 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $35,000 - 450,000 | 7 |
