Home Buying in Jersey City>Question Details

Shantanu, Home Buyer in Jersey City, NJ

Where to buy in JC waterfront?

Asked by Shantanu, Jersey City, NJ Fri Sep 14, 2012

I'd like to add one (or two) investment properties in JC waterfront area (near exchange place). I'd look to put $50-100K down. I'm looking for 10% rental yield. Should be close to PATH and have NYC views or Statue of Liberty views. Is this possible? Any suggestions for buildings? Am I 1-2 years too late?

Help the community by answering this question:

Answers

5
Hi Shantanu,

Your questions have been answered by realtors in the area you are interested in.

Best of Luck
0 votes Thank Flag Link Fri Sep 14, 2012
Hello Shantanu,
Sounds like you have a good amount of money down... what's important before I can offer you some properties to consider is how much are you approved for.
Feel free to contact me to discuss.
Marie Meyer
RE/MAX Villa
306 Grove St
Jersey City, NJ 07302
Tel 201 946 2700

Cell 917 658 8962/ email myrealtormarie@gmail.com
0 votes Thank Flag Link Fri Sep 14, 2012
It is possible to get views and it is possible to get yield, but it may not be possible to get them in the same package! As an investor, you really need to ask yourself what motivates you. If yield is important, then focus on that like a laser beam. Try to get sufficient yield to support a killer view from the terrace of your own high rise condominium , which I can help you purchase! And, while we are at it, lets find a multi-family building with good bones and a solid rent roll.
0 votes Thank Flag Link Fri Sep 14, 2012
Hello Shantanu,

I hate to be the bearer of bad news, but for the most part, the answer is yes. Unfortunately you're about 1.5 years too late to find what you're looking for along the JC Waterfront, specifically the 10% rental yield. This is due largely in part to the new construction buildings which have either sold out, or have very limited availability. The limited availability has led to price increases, raising prices significantly-even over the past six months.

Having said that, there is some good news. There are a handful of resales in these new/newer buildings which can settle at 2010/2011 prices. There are only a few, and some have recently gone under contract... but there are still a couple of excellent investment options along the Jersey City Waterfront.

Please feel free to call or email if you would like to discuss further. I purchased an investment property myself last year, in addition to working with dozens of investor clients over the past few years.

Best Regards,
Chris

Chris Amberg
Weichert Realtors
Exchange Place Office
Cell: 917-428-8317
NJAR Circle of Excellence Gold 2011
http://www.6thBoroughRealEstate.com
0 votes Thank Flag Link Fri Sep 14, 2012
Your best bet would be the Port Liberte area. I do a lot of BPO reports in that area and condos on the water front are cheap due to the short sales. I can assist you in your search if you'd like to find you the best deal out there. 917.209.9391
0 votes Thank Flag Link Fri Sep 14, 2012
meaning, quite far from exchange place/holland tunnel/PATH?
Flag Fri Sep 14, 2012
this is quite far from the Waterfront, no?
Flag Fri Sep 14, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer