244 2nd St
Jersey City, NJ 07302
Multifamily Property For Sale · 8 Units

8 Units In Downtown Jersey City 3 Blocks From PATH Marcus & Millichap is pleased to offer the following opportunity located in Harsimus Cove, Jersey City, New Jersey. The offering consists of a brick four-story walk up multifamily building comprised of eight apartments all three bedrooms and one bathroom. The property lies on a 25x100 lot, located between Erie Street and Manila Avenue (Grove Street) on 2nd Street. All units are separately metered for heat, cooking gas, hot water and electricity. Upside: Investing in capital improvements in current four vacant apartments and begin to vacate remaining occupied apartments. Storage can be built in basement for additional income. Value-Add: Potential basement apartment with necessary capital improvements required by code from Jersey City Zoning & Building Department. The property offers investors the rare opportunity to purchase a multifamily dwelling in a prime location with potential condo conversion. Three of the vacant units have begun the beginning stages of gut renovation having new bathrooms and boilers already installed. Located in the historical Harsimus Cove section of Jersey City the property sits three blocks from the Grove Street PATH station allowing commuters into Manhattan in less than a seven-minute subway ride.Grove Street, only a few blocks away, is one of the most flourishing areas of downtown Jersey City with a vibrant neighborhood that offers trendy restaurants, bars and shops that line the streets. Jersey City is considered the "sixth borough" and has become one of the most desirable markets in Hudson County with tremendous growth from New York City.