91 Romaine Ave
Listing Notes
Tenant occupied. Showing Unit 2, 6 on Thursday, Jan 1 between 12 - 2pm; Saturday Jan 3, from 11am - 12pm. Multifamily Investors or Developers Delight! Welcome to 91 Romaine Ave, a premium 3 story, 7-unit residential building in the heart of Journal Square, on an oversized 3,337 SQFT Oversized lot in R3 Zone. Unit mix includes spacious 2 or 3 bedroom, 1 bathroom units. Property is fully occupied with below market rents, with current gross rental income of $109,056, offering an upside with a potential gross income of ~ $180,000, at market rents. Property is in excellent condition, four of the seven units have been recently renovated. Each unit comes with sub-metered utilities including individual heat and hot water boilers as well as PSEG meters. Landlord pays for cold water, sewer, common electric, trash removal and pest control. Great long-term Investment with high appreciation in an excellent location. Current R3 Zoning allows for a 4 story building. The land alone is valued at 1.3M+. Collect rents while the land and property continues to appreciates at 8% - 10% yearly rate, in the fastest redeveloping neighborhood of Jersey City, Prime Journal Square sub-market. 10 minute walk to Journal Square Path Train, with direct trains to NYC Downtown and Midtown.
Price in context
Cheaper than 4% of the 24 homes listed nearby right now, which run $888,000 to $2,250,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 3182 John F Kennedy Blvd | $888,000 | — |
| 3182-3184 Kennedy Blvd | $888,000 | Studio |
| 3184 John F Kennedy Blvd | $888,000 | Studio |
| 235 Duncan Ave | $888,888 | 7 bd · 2 ba |
| 521 Mercer St | $899,000 | 5 bd · 3 ba |
| 722 W Side Ave | $899,900 | 6 bd · 4 ba |
| 718 W Side Ave | $899,900 | 6 bd · 4 ba |
| 445B Fairmount Ave | $925,000 | 3 bd · 4 ba |
| 813 Montgomery St | $949,989 | 6 bd · 4 ba |
| 270 1/2 Summit Ave | $950,000 | 6 bd · 3 ba |
| 152 Van Winkle Ave Unit 2 | $975,000 | 3 bd · 2 ba |
| 245 Jewett Ave | $995,000 | 7 bd · 5 ba |
| 62 Van Reypen St | $999,000 | 5 bd · 2 ba |
| 12 Van Wagenen Ave | $999,999 | 8 bd · 3 ba |
| 173 Baldwin Ave | $1,060,000 | 4 bd · 2 ba |
| 242 Baldwin Ave Apt 1 | $1,150,000 | 4 bd · 3 ba |
| 40 Wright Ave | $1,190,000 | 6 bd · 5 ba |
| 29 Orchard St | $1,250,000 | 5 bd · 4 ba |
| 245 Summit Ave | $1,298,000 | 5 bd · 6 ba |
| 41-43 Storms Ave | $1,350,000 | 8 bd · 4 ba |
| 41-43 Storms Ave | $1,350,000 | — |
| 35 Elizabeth St | $1,400,000 | 4 bd · 2 ba |
| 463 Mallory Ave | $1,499,900 | 7 bd · 8 ba |
| 375 Fairmount Ave | $2,250,000 | — |
Where it is
For sale Coming soon Recently sold— zoom out for more