See all 37 photos
37 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$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
Read Less Info
Listed by PROVIDENT LEGACY REAL ESTATE SERVICES LLC
GET MORE INFORMATION
G.K. Cheung
Broker of Record | License ID: 1120283
Broker of Record License ID: 1120283