💰🏠🌟 Historic Opportunity in Jersey City 🌟🏠💰

Description

Discover a unique investment in the heart of Jersey City! This Duplex offers three distinct living spaces, each with its own character and potential. 🏡✨

Top Floor Gem:

Size: 600 sqft
Configuration: 1 bed, 1 bath
Special Features: Separate mini-split HVAC for optimal comfort
Current Status: Rented out, generating $1,450/month 💰
🌈 Bright and cozy, perfect for singles or couples!
Middle Floor Marvel:

Size: 800 sqft
Configuration: 1 bed, 1 bath
Renovation: Fully renovated, turnkey with no further rehab needed 🛠️✅
Highlights: Modern finishes, a plug-and-play investment.
Ground Floor Project:

Size: 2 beds, 1 bath
Status: Under renovation, gutted and ready for your vision 🚧
Potential: High ceilings (15 ft), promising a stunning transformation
Budget: $100,000 to finish renovations and unlock its full potential.
Additional Features:

Basement: 1,000 sqft, unfinished, ripe for conversion into an additional unit 🛠️🏗️
Utilities: One hot water heater for all units, electrical with no issues, plumbing and sewage recently revamped.
HVAC: First and middle floors share a furnace; no central air but ripe for customization.
Roof: Replaced 11 years ago, ensuring peace of mind. 🏠
Investment Highlights:

Zoning: Currently a single-family home with straightforward potential to rezone as a triplex.
ARV: Estimated at $750,000, offering significant upside potential. 📈
Location: Prime Jersey City area, with easy access to amenities and transport.

COMPS in the Area:
71 Harmon Street: Sold for $700,000 (Aug 4, 2023)
33 Madison Avenue: Sold for $1,510,000 (Jun 14, 2023)
82 Madison Avenue: Sold for $695,000 (Mar 29, 2023)
334 Randolph: Sold for $750,000 (Sep 28, 2023)
294 Randolph: Sold for $999,999 (May 19, 2023)
85 Clinton Avenue: Sold for $540,000 (Aug 22, 2023)
9 Summit Avenue: Sold for $700,000 (Jul 5, 2023)
1 Emory: Sold for $1,150,000 (Jul 14, 2023)