245 Jewett Avenue
Property Description
Located in the growing West Bergen section of Jersey City, 245 Jewett Ave presents a rare investment opportunity with immediate income and significant upside through condominium conversion. This legal two-family property offers investors the chance to acquire an asset in one of Jersey City's evolving neighborhoods while already being positioned for future redevelopment potential. The spacious, duplex-style first unit features 4 bedrooms, two living areas, modern finishes, and a tankless water heater, which strongly appeals to future condominium resale buyers. Unit 2 features 3bd/2bath, currently tenant-occupied through July, providing immediate rental income while plans move forward. What truly separates this property from others on the market is that the current owner has already secured approvals from the town and in accordance with bylaws to convert the property into two separate condominiums. This gives the next owner a major head start by avoiding much of the time, cost, and uncertainty typically associated with the approval process. What truly separates this property from others on the market is that the current owner has already secured approvals from the town and in accordance with bylaws to convert the property into two separate condominiums. This gives the next owner a major head start by avoiding much of the time, cost, and uncertainty typically associated with the approval process.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $995,000 |
| No. of Units: | 2 |
| Year Built: | 1890 |
| Opportunity Zone: | No |
| Price per unit: | $497,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 7 |
| Number of Bathrooms: | 6 |
ID: 3yd-MOMLSNJ-22615522
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