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Priced to sell after a drastic reduction, this four-family brownstone in Downtown Jersey City is a steal for any buyer. Currently fully rented, the property could be an immediate revenue stream as is.
Additionally, investors should jump at the chance to convert the rental property into a condominium. Without any work required, each of the four units could sell for upwards of $599K, or re-market the brownstone as a boutique condo building, fetching $2.4 million or more.
145 Grand Street could also be a spectacular owner-occupied single-family or even a duplex. And there is an option to extend the back of the brownstone into the rear yard to increase its footprint and square footage.
The turn-key property is in mint condition and low maintenance, offering the opportunity of a variety of scenarios for any buyer, as well as ideally situated along Grand Street in the coveted neighborhood of Paulus Hook.
Located in the heart of Downtown Jersey City near the picturesque Hudson River waterfront, the property’s appeal to renters, buyers, investors, et al. is without question. 145 Grand is a commuter’s dream with two PATH stations, two ferry terminals, and a Hudson-Bergen Light Rail stop in the immediate vicinity. The vibrant DTJC scene of bars, restaurants, entertainment, shops, and services radiates in every direction and will only become more dynamic with the completion of 99 Hudson, New Jersey’s largest tower, nearby. And the brownstone is zoned for Cornelia F. Bradford Elementary, Jersey City’s highly rated P.S. 16.
The property’s four units feature functional floor plans and recently renovated interiors. High ceilings, hardwood floors, and crown moldings are throughout. Eat-in kitchens boast stainless steel appliances and contemporary finishes along with separate dining areas. Baths are marble-clad and bedrooms are spacious by any standard.
Each unit is currently renting for more than $2,000 a month:
Level 1: one bed, one bath $2,214
Level 2: one bed, one bath $2,250
Level 3: two bed, one bath $2,415
Level 4: two bed, one bath $2,163
Residents benefit from a high-security system and additional storage plus a common laundry room and backyard which includes a private shed. 145 Grand Street also boasts updated electrical and plumbing as well as separate utilities, making this beautiful 19th-century four-family brownstone an unprecedented chance to enter the profitable Downtown Jersey City market.
145 Grand Street is asking $1,825,000. For more information and to schedule a showing, please contact Kash Vaidya at 201-777-0495 or [email protected].
Listing: 145 Grand Street, Jersey City
Agent/Brokerage: Kash Vaidya/Redfin