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Old 03-09-2006, 09:02 AM
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Default 6 Family NJ/NYC Investment Property for sale

Dear Investors;

I know Investors are always looking for a decent property to flip on
to make a substantial profit and this property is perfect for just
that. Please spread the word on this great investment!!!

Multifamily house on Grand Street, Weehawken, NJ is available for
purchase. It is an exclusive listing, not listed on MLS yet.

It is a 6 family house, approx 4,000 sq ft and can easily be
converted into a 4 or 3 family. Full unfinished basement with
separate entrance.

Floors 2 and 3 are setup so both units connect at the bathroom, and
are about 3 bedrooms, 2 bath each. on the first floor the units are
more like 1 bed/1bath each.

The location is Key, right by the Water, 1/2 mile from NYC Ferry,
close to NYC path train, 1/2 mile from Hoboken. This Property is
located directly across the street from newer condos, which have sold
in the past few months at 700k for 1 unit. The vacant land adjacent
to this block has been sold to a developer who has announced
intentions to put more luxury condos there.

It needs work/updating. It has been lived in by same family for 60
years. Bathrooms in particular need work. Even if the property were
completely gutted and redone, there should be a substantial margin to
flip the property for profit... or the property can be condoized- for
instance, putting one unit on each floor, and selling each unit
individually (probably around 600k). The process of condoization is
not that difficult, can cost around 10k in legal/filing fees, and may
take around 5-7 months to finalize.

The exclusive listing asking Price is in the high 900's (negotiable)
and will be listed on MLS in weeks to follow for $1,175,000.00.
Taxes are dirt cheap only $3,794!!!

*Note: 3 -4 family houses of comparable size in Weehawken are selling
for between 1.2million- 2million.

If anyone is interested in this property please do not hesitate to
call or E-mail, it will be sold fast considering price, location,
profit possibilities!!!!

Jennifer Fern
Striker Realty
Director of Marketing
Office: 908-587-0090
Fax: 908-587-9855
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