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816 Pavonia Ave

Jersey City, Journal Square, NJ 07306
  • $1,509,000
  • STATUS: Active
  • ON SITE: 61 Days
  • MLS #: 240006990
UPDATED: 95 min ago
$1,509,000
  • 8
    BEDS
  • N/A
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:

School Ratings & Info

Description

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!

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© 2024 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Lori Staselis and Ann Wycherley | Brown Harris Stevens, NJ. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than Lori Staselis and Ann Wycherley | Brown Harris Stevens, NJ are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2024-06-20T20:25:36.737.
www.sellinghudsoncounty.com/homes/149512315
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816 Pavonia Ave Jersey City, Journal Square, NJ 07306

  • Price: $1,509,000
  • Status: Active
  • On Site: 61 Days
  • Updated: 95 min ago
  • MLS #: 240006990
8
Beds
3
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Jersey City, Journal Square
County:
Hudson
Area:
Jersey City, Journal Square
Property Description
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!
Exterior Features

Exterior Finish Brick Lot Size 25' X 100' Parking None Style Multi-Level

Interior Features

Basement FinishedFullWalk-Out Basement Baths 1 Basement Bedrooms 1 Floor1 Rooms 5 Floor2 Rooms 6 Floor3 Rooms 0 Floor4 Rooms 0 Heating Cooling Hot AirA/C Window Level1 Baths 1 Level1 Bedrooms 3 Level2 Baths 1 Level2 Bedrooms 4 Total Other Rooms 0

Property Features

Basement Rent 1400 Floor1 Rent 3300 Floor2 Rent 3800 Heat Expense 0 Hot Water Expense 0 Insurance Expense 2500 Internet Yes Lead Paint Form Yes Multifamily Type 2 Family Section Journal Square Taxes 11920 Utility Expense 0 Water Sewer Expense 0

Listing provided courtesy of EXP REALTY LLC:866-201-6210.


© 2024 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Lori Staselis and Ann Wycherley | Brown Harris Stevens, NJ. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than Lori Staselis and Ann Wycherley | Brown Harris Stevens, NJ are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2024-06-20T20:25:36.737.
 
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Lori Staselis and Ann Wycherley | Brown Harris Stevens, NJ
200 Washington Street
Hoboken NJ, 07030