Property Sub Type4 Family
One-of-a-kind ground up 2021 brand new construction in the prime location of Jersey City Heights. This 50 foot wide, 5 unit boutique building located on a massive 50' x 100’ IRR lot, comes equipped with private Garage Parking for the busy streets of Jersey City Heights. Huge potential for continued Market Rent with condominium conversion. Approximately 4200 square feet of living space with approx. 2200 sq ft of common amenities. The building is comprised of 3, 2 and 1 bedroom units. Each unit features expansive living room, beautiful classic grey stained solid hardwood flooring and 10’ tall ceilings. Modern kitchen outfitted with stainless steel appliances, Calcutta Carrier quartz countertops, 42" high kitchen cabinets, and ample cabinetry for a delightful cooking experience. Tons of sunlight entering each unit through the oversized windows. French balconies, common outdoor space, turn this place into a European retreat. The property is very secure, with video cameras throughout the building and intercom security available within individual units. Offered at 2.25M, the current land value of 3,750 SQ. FT. land is approx. $975,000, with a spike in construction prices, the building price is approx. 1.3M at $200 per SQ. FT. for 6,463.04 SQ. FT. of building square footage at $200 per SQ. FT. This deal worth 2.4M base price, at a sale price of $2,250,000 is unbeatable! Come discover the best Jersey City Heights has to offer, just 1 block to Washington Park, a 100-year-old, 22-acre park in Hudson County between Union City and Jersey City, offering 4 baseball fields, 9 tennis courts, basketball hoops, ideal for plenty of other sporting activities, Children's play, Yoga, and dog runs. 1 block from central Avenue, makes grocery shopping, dining, quick coffee runs or visits to banks a breeze. A commuter’s dream, situated at a one minute walk to John F. Kennedy Boulevard bus Stop, hop on Bus #125 direct to New York Port Authority Bus Terminal in 24 mins. 8 mins Walk to Central Ave at Congress St Bus Stop, Bus #119 direct to New York Port Authority Bus Terminal in 19 mins. Positioned near the crossroads of the John F. Kennedy Blvd. and Poplar Street, and in close proximity to Tonnelle Ave, allows for quick access to major roads and highways, easy commute to Newark Liberty International Airport. Great low maintenance building for long term investment at a High Cap Rate in the area. Fully Occupied, cash flowing property as of Oct 2021! 1031 Exchange investors welcome!