203-205 Martin Luther King Jr Dr

Jersey City, New Jersey 07305

Multi Family

  • Property Details

    Amazing investor opportunity for a mix-use multi family consisting of two separate properties next to each other sold as a package deal. Zoning allows up to 2 floors up on both sides, potential of adding 6-8 units on the two floor expansion. With easy approval for framing, electrical and plumbing. 1 storefront is already approved for a daycare which has been in business for over 15 years on a current 5 year lease with another 5 years extension and 3% increase per year. The other storefront would be ideal for a bakery potential of $3300 mo for rental income. Currently there is a 4 bedroom apartment listed at $1600 mo and the other 4 bedroom unit is currently on a month to month lease for $1000 mo.
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  • Additional Property Information

    This multi family listing is located at 203-205 Martin Luther King Jr Dr, Jersey City, NJ. A multi level style property, it is presently selling for $840,000.

    Additional features include finished,full,brick,central air,baseboard,gas.

    This property is presented by WEICHERT, REALTORS® headquartered in New Jersey.

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