No Longer Available

Tenant occupied. Showing Unit 2, 6 on Thursday, Jan 1 between 12 - 2pm; Saturday Jan 3, from 11am - 12pm. Multifamily Investors or Developers Delight! Welcome to 91 Romaine Ave, a premium 3 story, 7-unit residential building in the heart of Journal Square, on an oversized 3,337 SQFT Oversized lot in R3 Zone. Unit mix includes spacious 2 or 3 bedroom, 1 bathroom units. Property is fully occupied with below market rents, with current gross rental income of $109,056, offering an upside with a potential gross income of ~ $180,000, at market rents. Property is in excellent condition, four of the seven units have been recently renovated. Each unit comes with sub-metered utilities including individual heat and hot water boilers as well as PSEG meters. Landlord pays for cold water, sewer, common electric, trash removal and pest control. Great long-term Investment with high appreciation in an excellent location. Current R3 Zoning allows for a 4 story building. The land alone is valued at 1.3M+. Collect rents while the land and property continues to appreciates at 8% - 10% yearly rate, in the fastest redeveloping neighborhood of Jersey City, Prime Journal Square sub-market. 10 minute walk to Journal Square Path Train, with direct trains to NYC Downtown and Midtown.

Room Details

Kitchen

Full Baths

Location

Listing Details

Summary

Architectural Type

•MultiLevel

Interior Features

Basement

•Partial Finish

Exterior Features

•Brick

Utilities

Cooling

•A/C Wall, Hot Water

Heating

•A/C Wall, Hot Water

Miscellaneous

Assessment : 0

Zoning: M

Lattitude : 40.733086

Longitude : -74.06925

MLS# : 250024961

Listing Courtesy: MINNI 25002 of EXP REALTY LLC

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Notes

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