246 Pine St

Description

Turnkey 3-Family Investment Opportunity at 246 Pine Street, Lafayette, Jersey City Exceptional income-producing property in one of Jersey City's most in-demand neighborhoods! This 3-unit building, with three spacious 2-bedroom/1-bath units totalling approximately 2,850 sq ft, plus a full basement for additional storage, was fully gut-renovated down to the studs in 2017 and is currently 100% tenant-occupied, offering a true turnkey opportunity for investors seeking stable cash flow with minimal near-term capital expenditure. During the renovation, the current owner rebuilt the entire building with an eventual condo conversion in mind, so the layout and systems are already positioned to support that path for a future owner. Set on a 25 x 90 lot, the property offers excellent scale for the neighborhood. Each unit showcases a stylish modern/industrial aesthetic with exposed ductwork, stainless steel appliances, custom cabinetry with tile backsplash, quartz countertops, and recessed lighting. Units feature large bedrooms with ample closet space, hardwood floors, ceiling fans, central air conditioning, in-unit washer/dryer, NEST thermostats, and video intercom entry. Every unit is individually heated with its own boiler, keeping utilities separate by unit and simplifying ownership and management. Outdoor space for each tenant plus a large shared yard is a key feature adding to strong tenant retention. Located just minutes from the Light Rail, Liberty State Park, and Liberty Science Center, with easy access to neighborhood favorites like Harry's Daughter, Sam I Am, Mordi's, and Grind Coffee Shop. Lafayette remains one of Jersey City's most sought-after rental submarkets, supporting continued demand and rent growth. Fully renovated, fully leased with three 2-bedroom units, and low-maintenance — an excellent addition to any investment portfolio. Rent roll and financials available upon request.