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$1,250,000
Est. payment /mo
5 Baths
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250003509
Full Baths 5
Annual Tax Amount $8,322
Lot Dimensions 22 x 97
Property Sub-Type Investment
Property Description
Welcome to 289 MLK Dr, a unique and investment-ready 5-unit mixed-use building in the heart of Jersey City, NJ offering a pro-forma cap rate of over 8.3%. This property combines newly renovated residential units and a thriving, fully operational bodega on the ground floor, offering an excellent opportunity for investors or owner-occupants seeking a property with strong income potential. Four spacious 2-bedroom, 1-bathroom apartments featuring contemporary updates, high ceilings, and ample natural light. These units offer modern kitchens, updated bathrooms, central heating(gas), and hardwood floors throughout. The ground-floor retail space is home to a local bodega, providing essential goods to the community and generating steady rental income. Located just 5 blocks from the MLK Light Rail Station, commuting to New York City is convenient and fast. The station connects to the Hudson-Bergen Light Rail, which provides a direct route to Hoboken Terminal in approximately 20 minutes, where you can easily transfer to PATH trains for quick access to Manhattan (about a 10-minute ride). Whether you're looking to build equity or add a reliable income stream, this property provides immense value. Schedule a tour today to see the full potential of this incredible opportunity!
Location
State NJ
County Hudson
Area Jc Greenville
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Listed by PROVIDENT LEGACY REAL ESTATE SERVICES LLC