Land For Sale in Jersey City, NJ
MLS# : 250002169
PROPERTY DETAILS
PROPERTY DESCRIPTION
Permitted as of right to build: 3 Units, plus a 4th Unit as an ADU. This 3,057 sq’, 26’ x 126’ - 25’ x 118’ lot is ideally located 2 short blocks from The Hudson/ Bergen Light Rail Station, around the corner from the new Jersey City Municipal offices, a large shopping center with major grocery store, and shops. This Prime development site, is in the Opportunity Zone, as well as New Market Tax Credit Eligible Census Tract. The current home at 645 Ocean Avenue is a large 3 bedroom 2.5 bath single family home built in 1995. It provides a large backyard and a curb cut that allows for parking in front of the building. The current building can also be quickly renovated and would make a wonderful home. The potential to build 4 units and maximize return could be scheduled for a later time. Delivered vacant.
Current Zoning & Permited Use
- R1
This listing is a courtesy of PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY
201-333-7717 office, listing agent NADER REZAI
About Jersey City, NJ Real Estate Market
Jersey City currently serves as a prime hub for distribution and transportation terminus for the Port of New York and New Jersey. Ever since the redevelopment of the Jersey City Waterfront happened, Jersey City became a major hub for banking and finance in the United States of America. All these developments in these years also resulted in the development of Hudson County real estate in the city.
Consisting of most of the parts of Ellis Island, Jersey City also surrounds Liberty City through its waters in the Upper New York Bay. Thanks to its proximity and easy connectivity to Manhattan, Jersey City is also considered the sixth borough of New York City. Jersey City has some of the earliest European settlements in North America, which played a crucial role in the development of various sections of the city.
| Population: | 267,345 |
| Total Housing Units: | 104,018 |
| Single Family Homes: | 36,684 |
| Apartments: | 67,334 |
| General Tax Rate (2023): | 2.246% |
| Effective Tax Rate (2023): | 1.944% |
| Compare To Other Towns |
Jersey City Market Indicators
PRICE INDEX
| Average Price* (12mo): | $711,295 |
| Homes Sold* (12mo): | 213 |
SINGLE FAMILY HOME SALES
Jersey City, NJ
PRICE INDEX
| Average Price* (12mo): | $657,792 |
| Apatments Sold* (12mo): | 1,062 |
APARTMENT SALES
Jersey City, NJ
REAL ESTATE TAXES
| General Tax Rate (2023): | 2.246% |
| Effective Tax Rate (2023): | 1.944% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $375,000 - 3,000,000 | 59 |
| Condos : | $155,000 - 4,148,000 | 362 |
| Co-ops : | $549,000 - 549,000 | 1 |
| Twnhs : | $399,900 - 1,749,000 | 13 |
| 2-4 Fam : | $384,900 - 2,750,000 | 112 |
| 5+ Fam : | $1,200,000 - 1,650,000 | 4 |
| Land : | $299,000 - 5,500,000 | 14 |
| Rentals : | $1,546 - 7,095 | 71 |
| Mixd Use : | $1,200,000 - 3,500,000 | 9 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $60,000 - 2,000,000 | 8 |
