Investing in West Bergen and West Side Jersey City area
Hey everyone! I'm looking into investing in the West Bergen Jersey City area, more towards Woodlawn Ave and West Side Ave near the Hackensack River waterfront.
Are there any investors or real estate agents who can provide their thoughts on the area? I've been looking at 2 bed/1 bath and 3 bed/1bath rent comparables on zillow, rentometer, and redfin.
Hi Brian! You've found and chosen a great market. My short take: I believe we are currently in the renaissance of the West Side/Greenville area. While more investors are flocking to and rehabing properties, and builders are breaking ground, historical owners are also paying more attention to their properties and bringing them up to shape. I think the Greenville/West Side area gives you the best of worlds: socio-economic diversity, big lot sizes, proximity to new developments and low taxes. You can't go wrong!
I'm happy to connect on all thing investing in Jersey City. I own Ko Cafe (722 Grand St @kocafejc), a coffee shop in Bergen Lafayette and we're always having conversations with owners, investors and the like on how neighborhoods are evolving! Check us out.
Hey @Isreal Adeyanju!
Thank you so much for the quick response. I've traveled around the area and talked to some store owners from Asian Foods Supermarket and Lil M bubble tea shop, and have heard great things.
Wow, that's great to hear. I've passed by the past few days. My 2 main doubts are the rental prices and the crimes that have occurred around the area (wandering around on reddit posts and past news articles).
I've been looking at 3 bed/1bath and 2 bed/1bath comparables through zillow, redfin, rentometer, and rentcast, but have seen many listings active on the market for 1 month+
Reddit can be a scary place lol! Crime in JC, especially where you're looking, is more targeted and mostly gang-related. I agree with rents, especially with the increase of developments pushing "non-luxury" unit prices down. Long term, however, I think it does look quite bright for equity appreciation and rent prices. Looking forward to connecting.