116 Oak St, Jersey City, NJ 07304

Property Description

116 Oak Street presents a rare, move-in-ready multi-unit opportunity in one of Jersey City's most desirable and rapidly appreciating neighborhoods. Spanning 3,549 square feet, this well-maintained property offers exceptional flexibility for both owner-occupants and investors. The top unit is currently rented at $1,600 per month, with the tenant responsible for their own utilities; the owner covers water and sewer. The lease runs through 2027, providing stable, long-term income. The bottom unit is vacant, while the seller currently resides in the middle unit, which has been meticulously maintained. The property itself is turn-key and includes gated parking, a garage, and a private backyard—a rare combination in Jersey City. Ideally located near downtown Jersey City, PATH transportation, major highways, shopping, dining, and parks, offering convenient access to Manhattan and surrounding areas. A three-unit approval may be possible, without variance, currently pending a letter of determination from the town, presenting a clear path to additional value. An outstanding opportunity in an exceptional Jersey City location with immediate income and long-term upside. Best and Final Offers due Monday, February 16th at 5:00 PM. All offers must be submitted by this deadline!