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347 Palisade Ave

Jersey City, Heights, NJ 07307
  • $1,250,000
  • STATUS: Active
  • ON SITE: 38 Days
  • MLS #: 220006654
UPDATED: 92 min ago
$1,250,000
  • 9
    BEDS
  • N/A
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Welcome to 347 Palisade! This quintessential investment property is excellent for buy and hold as well as fix and flip investors. 2005 built, Two Family income producing contemporary house, with a potential to turn it into three family(as of right) by merely adding a kitchenette on the ground floor, currently offers three story living, two individual units (duplex on ground and 1st floor, second unit on the top floor), a total of nine bedrooms, five full bathrooms, two kitchen, two open-concept living and dining rooms, one garage parking and a large backyard for year-round entertainment delight. The property is in excellent condition and generating a gross annual income of approx. 101,280 USD (approx. 6.24% CAP, July 2022 onwards) with a potential upside from three family conversion and 6.72% future CAP. Property sits on a 25' x 100' lot in R-2D zoning district (typically allows for 4 residential units with home office or commercial space on ground) on one of the prestigious blocks of Palisade Avenue, in the Heights section of Jersey City. The house is surrounded by many new construction condominium projects, which makes it great for developers looking for their next condominium project to add to their portfolio. Riverview Park, the Famous Franklin, the Supremo Food Market, Fox and Crow, all are at your doorsteps. Located at a walking distance of 8 mins to 2nd street Light Rail, 1 min to buses 84, 86, 87, 123, and 15 minutes drive to Midtown or Lower Manhattan (via Lincoln or Holland Tunnel respectively), makes it very convenient for the New York City and New Jersey Commuters! Where location meets the right price, this property is a gem in Jersey City Heights.

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© 2022 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or PRIME Real Estate Group. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than PRIME Real Estate Group are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2022-05-26T00:26:06.47.
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347 Palisade Ave Jersey City, Heights, NJ 07307

  • Price: $1,250,000
  • Status: Active
  • On Site: 38 Days
  • Updated: 92 min ago
  • MLS #: 220006654
9
Beds
5
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Jersey City, Heights
County:
Hudson
Area:
Jersey City, Heights
Property Description
Welcome to 347 Palisade! This quintessential investment property is excellent for buy and hold as well as fix and flip investors. 2005 built, Two Family income producing contemporary house, with a potential to turn it into three family(as of right) by merely adding a kitchenette on the ground floor, currently offers three story living, two individual units (duplex on ground and 1st floor, second unit on the top floor), a total of nine bedrooms, five full bathrooms, two kitchen, two open-concept living and dining rooms, one garage parking and a large backyard for year-round entertainment delight. The property is in excellent condition and generating a gross annual income of approx. 101,280 USD (approx. 6.24% CAP, July 2022 onwards) with a potential upside from three family conversion and 6.72% future CAP. Property sits on a 25' x 100' lot in R-2D zoning district (typically allows for 4 residential units with home office or commercial space on ground) on one of the prestigious blocks of Palisade Avenue, in the Heights section of Jersey City. The house is surrounded by many new construction condominium projects, which makes it great for developers looking for their next condominium project to add to their portfolio. Riverview Park, the Famous Franklin, the Supremo Food Market, Fox and Crow, all are at your doorsteps. Located at a walking distance of 8 mins to 2nd street Light Rail, 1 min to buses 84, 86, 87, 123, and 15 minutes drive to Midtown or Lower Manhattan (via Lincoln or Holland Tunnel respectively), makes it very convenient for the New York City and New Jersey Commuters! Where location meets the right price, this property is a gem in Jersey City Heights.
Exterior Features

Exterior Finish Aluminum/VinylBrick Parking 2 CarsAttachedGarage Style ContemporaryMulti-Level

Interior Features

Basement None Basement Baths 1 Basement Bedrooms 3 Floor1 Rooms 6 Floor2 Rooms 6 Floor3 Rooms 0 Floor4 Rooms 0 Heating Cooling A/C CentralElectric Level1 Baths 2 Level1 Bedrooms 3 Level2 Baths 2 Level2 Bedrooms 3 Total Other Rooms 0

Property Features

Internet Yes Lead Paint Form No Multifamily Type 2 Family Section Heights

Listing provided courtesy of Exp Realty Llc:866-201-6210.


© 2022 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or PRIME Real Estate Group. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than PRIME Real Estate Group are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2022-05-26T00:26:06.47.
 
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PRIME Real Estate Group
98 Park Avenue
Hoboken NJ, 07030