2-4 Family Home For Sale in Jersey City, NJ
MLS# : 260007462
PROPERTY DETAILS
PROPERTY DESCRIPTION
Located in the growing West Bergen section of Jersey City, 245 Jewett Ave presents a rare investment opportunity with immediate income and significant upside through condominium conversion. This legal two-family property offers investors the chance to acquire an asset in one of Jersey City’s evolving neighborhoods while already being positioned for future redevelopment potential. The property features a spacious duplex-style first unit with 4 bedrooms, two living areas, modern finishes, and a tankless water heater, creating strong appeal for future condominium resale. The second-floor unit is currently tenant-occupied through July, providing immediate rental income while plans move forward. What truly separates this property from others on the market is that the current owner has already secured approvals from the town and in accordance with bylaws to convert the property into two separate condominiums. This gives the next owner a major head start by avoiding much of the time, cost, and uncertainty typically associated with the approval process. Conveniently located near Liberty State Park, the light rail, shopping, restaurants, and major commuter routes, West Bergen continues to experience strong buyer demand and ongoing development.
Amenities
This listing is a courtesy of KELLER WILLIAMS EAST MONMOUTH
732-704-4033 office, listing agent LILLY SHAMAM
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: | 289,691 |
| Total Housing Units: | 132,636 |
| Single Family Homes: | 9,795 |
| Apartments: | 122,774 |
| General Tax Rate (2025): | 2.335% |
| Effective Tax Rate (2025): | 1.847% |
| Compare To Other Towns |
Jersey City Market Indicators
PRICE INDEX
| Average Price* (12mo): | $739,081 |
| Homes Sold* (12mo): | 177 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $681,468 |
| Apatments Sold* (12mo): | 1,096 |
APARTMENT SALES
Jersey City, NJ
REAL ESTATE TAXES
| General Tax Rate (2025): | 2.335% |
| Effective Tax Rate (2025): | 1.847% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $399,000 - 2,395,000 | 59 |
| Condos : | $165,000 - 6,499,000 | 592 |
| Co-ops : | $397,500 - 664,000 | 8 |
| Twnhs : | $339,900 - 2,249,000 | 11 |
| 2-4 Fam : | $415,000 - 2,495,000 | 134 |
| 5+ Fam : | $1,550,000 - 1,550,000 | 1 |
| Land : | $399,000 - 4,800,000 | 25 |
| Rentals : | $1,600 - 5,300 | 35 |
| Mixd Use : | $1,550,000 - 1,550,000 | 1 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $30,000 - 1,295,000 | 10 |
