229 7Th StJersey City, NJ 07302

Property Details for 229 7Th St

Property type

Commercial real estate

Description

This exceptional three-family home, located at 229 7th Street in Jersey City, New Jersey (zip code 07302), presents a compelling investment opportunity or the chance to create a dream home. Situated in the heart of Downtown Jersey City, this property enjoys a prime location, just steps from Hamilton Park and conveniently close to both the Newport and Grove Street PATH stations, providing easy access to New York City. The building currently consists of three separate rental units, all currently occupied and not subject to rent control, offering immediate income potential for investors. Unit 1 and Unit 3 include in-unit washer/dryer units, while Unit 2 has hookups ready for installation. Homeowners will appreciate the spacious two-floor apartment featuring a private deck and backyard, while the rental income from the other two units can help offset living expenses. The property's existing footprint also presents a unique opportunity for those seeking to create a magnificent single-family residence. The potential for expansion, such as extending the back of the house, allows for the creation of a sprawling home with ample living space and outdoor areas. This property offers a rare blend of location, income potential, and the possibility for extensive renovation, making it an ideal investment or a chance to build a custom home in a highly desirable Jersey City neighborhood. The asking price is $1,485,000.

Location Insight

City

Jersey City

County

Hudson

State

New Jersey

Latitude

40.726

Longitude

-74.0439

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