203-205 MARTIN LUTHER KING JR DR Jersey City, NJ 07305

$840,000
203-205 MARTIN LUTHER KING JR DR, Jersey City, NJ 07305

Property Information

  • $840,000
  • Multi-Family
  • Multi-Level
  • Active
  • Jersey City, NJ
  • Greenville Neighborhood
  • Hudson County
  • MLS/Web ID is 160011407

Description

Amazing investor opportunity for a mix-use multi family consisting of two separate properties next to each other sold as a package deal. Zoning allows up to 2 floors up on both sides, potential of adding 6-8 units on the two floor expansion. With easy approval for framing, electrical and plumbing. 1 storefront is already approved for a daycare which has been in business for over 15 years on a current 5 year lease with another 5 years extension and 3% increase per year. The other storefront would be ideal for a bakery potential of $3300/mo for rental income. Currently there is a 4 bedroom apartment listed at $1600/mo and the other 4 bedroom unit is currently on a month to month lease for $1000/mo.

Interior 3

Basement

  • Finished
  • Full

Cooling System

  • Central Air

Heating System

  • Baseboard
  • Gas

Exterior 1

Construction

  • Brick

† Excluded Feature

Listed By

Listing Agent: Natalie Esfandiari
Broker: Weichert Realtors
Office: Jersey City Downtown
Phone: (917) 561-0600

203-205 MARTIN LUTHER KING JR DR, Jersey City, NJ, 07305 is a Multi-Family Home for sale at $840,000. 203-205 MARTIN LUTHER KING JR DR has 0.0 baths. The property's zip code is 07305 which is in Jersey City, NJ

Pricing History

Date Price Price Change Description
8/26/2016 $840,000 -6.56 % Price Change
8/26/2016 $899,000 Price Change
8/2/2016 $899,000 Listed Price

Market Pricing

Average % of sale price Median % of sale price
All listings in Jersey City $709,233 16 % below $485,950 42 % below
Multi-family listings in Jersey City $597,581 29 % below $450,000 46 % below
Sold listings in Jersey City $183,500 78 % below $0 100 % below

Get the facts about Jersey City, NJ!

Population 263,969
Population Growth (since 2000) 10 %
Median Income $61,705
Median Age 35.73
Households w/ Children 27 %

Residential Dwellings

  • Owned 30878
  • Vacant 11364
  • Rented 73079

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