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$ 1,600,000
Est. payment | /mo
6 Baths
$ 1,600,000
Est. payment | /mo
6 Baths
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
Listed by CHRISTIE'S INTERNATIONAL REAL ESTATE GROUP