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$1,600,000
Est. payment /mo
6 Baths
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250000177
Full Baths 5
Half Baths 2
Annual Tax Amount $16,044
Lot Dimensions 3751
Property Sub-Type Investment
Property Description
Situated in a bustling high-traffic area, this three-story brick building boasts two store fronts and five 2-bedroom residential rental units. The property is zoned for commercial use (4A), offering a lucrative opportunity for savvy investors. Currently, the rental income has great potential for growth, especially with the recent renovation of one second- floor residential unit, which is rented for $2,200 per month. Each residential unit is approximately 1,000 sq. ft and comes equipped with a refrigerator and gas stove, enhancing the appeal for tenants. Noteworthy recent upgrades include a $20,000 roof repair with a new skylight, $35,000 invested in residential unit enhancements, and $7,000 in improvements to the common areas. The storefronts underwent $100,000 in renovations to attract potential lessees. With close proximity to New York City and NY transportation, this property offers promising returns in a rapidly developing area. Don't miss out on this excellent investment opportunity! Contact us today to learn more.
Location
State NJ
County Hudson
Area Kearny
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Listed by CHRISTIE'S INTERNATIONAL REAL ESTATE GROUP
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G.K. Cheung
Broker of Record | License ID: 1120283
Broker of Record License ID: 1120283