For Sale

Welcome to 816 Pavonia, a newly renovated 3 story 2 family property located in the prime JSQ area within redevelopment zone 4, as well as opportunity zone, and at a 6 minute walk to Journal Square Path. This fully rented two family home features 8 Bedrooms, 3 Kitchen, 3 Full Bathrooms including a fully finished Basement. Three electric & gas meters, three separate boilers/water heaters, three-zoned furnace, and window AC in all rooms. Non-historic, no known environmental issues, 25' x 100' lot, offering huge opportunity for a new development of individual condominiums or 8 – 9 rental units on a 4 story new construction building. Pavonia Ave is surrounded by 20+ story tower buildings, some under construction and some recently approved by the planning board. Over 1200 units planned and approved on 808 Pavonia coming right behind the property. Huge potential for our developers/investors looking to turn this into a luxury single family home with home office while overseeing their neighboring development projects. Owner occupants, move into one of the units in this turn key property while collecting rent from the other unit. For Cash Flow investors, sub-metered property is fully rented with pro-forma rents of $99,600 in gross annual income and NOI of approx. $87,000 and 5.7% CAP. Be a part of this hustle bustle before it turns into Midtown of Jersey City!

Room Details

Living Room

Kitchen

Bedrooms

Full Baths

Location

Listing Details

Summary

Architectural Type

•MultiLevel

Interior Features

Basement

•Finished, Full, WalkOut

Exterior Features

•Brick

Utilities

Cooling

•Hot Air, A/C Window

Heating

•Hot Air, A/C Window

Miscellaneous

Assessment : 0

Zoning: M

Lattitude :

Longitude :

MLS# : 240006990

Listing Courtesy: MINNI 24000 of EXP REALTY LLC

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Notes

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