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581-583 Palisade Ave

Jersey City, Heights, NJ 07307
  • $2,200,000
  • STATUS: Active
  • ON SITE: 36 Days
  • MLS #: 240019805
UPDATED: 9 min ago
$2,200,000
  • 0
    BEDS
  • N/A
    ACRES
  • 12
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

Description

Located just one block from the Congress St Elevator to Hoboken, 581-583 Palisade Ave offers a prime development opportunity in the desirable Jersey City Heights. Situated in an R3 development zone, this 50x100 lot currently houses 12 units and is ready for a visionary developer to reimagine its potential. With its strategic location and ample space, this property provides the perfect canvas for a new residential project, promising a blend of urban convenience and modern living in a thriving neighborhood. $2,200,000 for the package. UNIT # Rent $ 581 1 $ 1,047 2 $ 1,059 3 $ 963 4 $ 851 5 $ 949 6 $ 1,300 1 (part owner - delivered vacant) $ 636 2 $ 939 3 $ 1,300 4 $ 780 5 $ 950 6 $ 937 Total $ 11,711 Annual $ 140,532 Taxes $ 22,613 PSEG/Utilities $ 4,881 JC Water $ 9,559 Insurance $ 12,635 Cleaning $ 1,200 Repair and Maint $ 2,940 Pets control $ 960 Total Expenses $ 54,788 NOI $ 85,744 - Price $ 2,200,000 To raise rents in Jersey CityEvery $100 spent on renovations, you get $1.35 in the first $5,000. After $5,000 you get $1.55 for every $100 spent per month. (Vacancy Capital Improvment) VCI application, costs $125 per unit.

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© 2024 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: 2024-11-14T12:26:07.11.
www.bestofhobokenhomes.com/homes/156463914
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581-583 Palisade Ave Jersey City, Heights, NJ 07307

  • Price: $2,200,000
  • Status: Active
  • On Site: 36 Days
  • Updated: 9 min ago
  • MLS #: 240019805
0
Beds
12
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Jersey City, Heights
County:
Hudson
Area:
Jersey City, Heights
Property Description
Located just one block from the Congress St Elevator to Hoboken, 581-583 Palisade Ave offers a prime development opportunity in the desirable Jersey City Heights. Situated in an R3 development zone, this 50x100 lot currently houses 12 units and is ready for a visionary developer to reimagine its potential. With its strategic location and ample space, this property provides the perfect canvas for a new residential project, promising a blend of urban convenience and modern living in a thriving neighborhood. $2,200,000 for the package. UNIT # Rent $ 581 1 $ 1,047 2 $ 1,059 3 $ 963 4 $ 851 5 $ 949 6 $ 1,300 1 (part owner - delivered vacant) $ 636 2 $ 939 3 $ 1,300 4 $ 780 5 $ 950 6 $ 937 Total $ 11,711 Annual $ 140,532 Taxes $ 22,613 PSEG/Utilities $ 4,881 JC Water $ 9,559 Insurance $ 12,635 Cleaning $ 1,200 Repair and Maint $ 2,940 Pets control $ 960 Total Expenses $ 54,788 NOI $ 85,744 - Price $ 2,200,000 To raise rents in Jersey CityEvery $100 spent on renovations, you get $1.35 in the first $5,000. After $5,000 you get $1.55 for every $100 spent per month. (Vacancy Capital Improvment) VCI application, costs $125 per unit.
Exterior Features

Lot Size 50x100 Stories 3

Interior Features

One Bedrooms 12

Property Features

Commercial Type Investment Fuel Gas Green Card Yes Gross Income $ 140532 Internet Yes Lead Paint Form Yes Mixed Use No Operating Expenses 52000 Rent Control Yes Taxes 22613

Listing provided courtesy of KELLER WILLIAMS CITY LIFE REALTY:201-659-8600.


© 2024 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: 2024-11-14T12:26:07.11.
 
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PRIME Real Estate Group
98 Park Avenue
Hoboken NJ, 07030