331 Baldwin Ave, Jc, Journal Square, NJ 07306

Property Description

Great opportunity to acquire a 9 unit brick investment property, offering stable in place income with significant long term upside. Generating approximately $194,000 in current NOI. Priced at $2.899M, situated within Jersey City’s Journal Square 2060 Redevelopment Zone, the building spans four stories plus a high-ceiling basement. Remodeling and condominium conversion potential with a possibility of property being delivered fully vacant. The lower-level units may offer the opportunity to be duplexed with the basement, while the zoning may permit the addition of up to two stories as of right, subject to buyer due diligence and municipal confirmation. 32.79 x 94.49 lot with a building footprint of approximately 32.79 x 77. Minutes from the Journal Square Transportation Center, the property provides direct PATH access to Manhattan and is surrounded by residential and commercial developments.