816 Pavonia Ave
JC Journal Square,
NJ
07306
- For Sale
- NEW
- 3 Full Baths
- Multi Family
- ML# 240006990
Property Details
Overview
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!
Key Facts
- •Style: Multi-Level
- •Lot Size: 25' X 100'
- •Taxes: $11,236
- •Type Sale: For Sale
•Block: 09404
- •Lot: 30
- •Parking Facilities: None
- •Full Bath: 3
- •Kitchen: 3
- •Living Room: 3
- •Heat: Hot Air
- •A/C: A/C Window
Listing Information provided courtesy of
EXP REALTY LLC. Call at 866-201-6210