For Sale

Description

Welcome to 347 Palisade, the most vibrant street of Jersey City heights! This newly constructed, 2005 built, cash flowing two family investment property, is excellent for buy and hold investors counting on appreciation or owner occupants looking to live in unit and rent another to off-set living expenses. This two Family income producing contemporary house 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(currently rented as storage) and a large backyard for year-round entertainment delight. The property is in excellent condition and generating a gross annual income of 101,040 USD with a potential upside. All utilities are paid by tenant(70% unit 1, 30% unit 2). Landlord pays taxes and insurance. Property sits on a 25' x 100' lot in RC2 zoning district on one of the prestigious blocks of the Heights section of Jersey City. Zoning allows for 4 story building.The house is surrounded by 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.