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$ 995,000
Est. payment | /mo
7 Beds
4.5 Baths
$ 995,000
Est. payment | /mo
7 Beds
4.5 Baths
Key Details
Property Type Multi-Family
Sub Type 2 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260007462
Style Other-See Remarks
Bedrooms 7
Full Baths 4
Half Baths 1
Annual Tax Amount $19,592
Tax Year 2025
Property Sub-Type 2 Family
Property Description
Rebuilt in 2019 and already 80% approved for conversion into two separate condominiums, 245 Jewett Avenue presents a rare opportunity to acquire a fully renovated two-family property with immediate income and substantial future upside. The current owner has completed much of the heavy lifting by securing the necessary municipal approvals and satisfying bylaw requirements for condominium conversion, providing the next owner with a significant head start and potentially saving considerable time, expense, and uncertainty. Located in Jersey City's growing West Bergen neighborhood, this legal two-family property offers multiple investment strategies. The first-floor duplex-style unit features 4 bedrooms, two spacious living areas, modern finishes, a tankless water heater, a private rear entrance, and a beautiful deck—creating strong appeal for future condominium resale or owner-occupancy. The second-floor unit is currently tenant-occupied through July, providing immediate rental income while future plans are pursued. Whether held as a cash-flowing investment, owner-occupied with rental income, or repositioned through condominium conversion, the property offers flexibility rarely found in today's market. Conveniently located near Liberty State Park, the light rail, shopping, restaurants, and major commuter routes, West Bergen continues to benefit from strong buyer demand, ongoing development, and attractive financing opportunities available through participating lenders in select areas. Opportunities combining a recent full renovation, approved condo conversion potential, immediate income, and multiple exit strategies are becoming increasingly difficult to find in Jersey City.
Location
State NJ
County Hudson
Area Jc West Bergen
Rooms
Basement Finished, Full, Walk-Out
Interior
Heating A/C Central, Other-See Remarks
Cooling A/C Central, Other-See Remarks
Exterior
Exterior Feature Aluminum/Vinyl, Stone
Parking Features 1 Car, Other-See Remarks
Listed by KELLER WILLIAMS EAST MONMOUTH
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