I’m looking to invest in Jersey City and purchase a buy and hold rental property. I am not that familiar with that City and would like to know if anyone have any suggestions regarding neighborhoods I should focus on.
I own a home in Jersey City and I am also looking to invest here. A lot of potential growth here. I can help you with finding good areas. Send me a message if you'd like to go over in more detail.
I was born and raised in Jersey City but relocated to Maryland years ago; however, the majority of my family and father still live in JC. I visit several times a year so I’m very familiar with the area. My family members and friends live throughout Jersey City, so I can provide some recommendations.
I would recommend the following zip codes:
- 07302, 07310,07306,07307,07304 and 07087
Downtown Jersey City (07302) is a good location because a typical houses generally are 3-4 brick story (aka Brown Stones) with the potential for 2 separate units for renters and in some cases a bottom level which in could potentially be converted into a third unit. Numerous properties in this area have been renovated and the area is growing on many fronts.Some of the pros for this area are listed below:
- The new Jersey City Medical Center which constantly has medical residents in need of housing
- The close proximity to the Path train which has been our gateway to New York City and due to this many ex-New York residents relocated to downtown Jersey in search of lower rents
- The area is one of the safest location in the city
- A growing numbers of businesses such as restaurants/cafes and entertainment
Thanks Terri & Ray. What do you think of journal square? Is it a good area to invest in rentals?
As with most area of North Jersey, transportation to NYC is key. JS has direct trains to midtown and the financial district making it a good bet. The area is already on it's way up. There is some big dollar projects going into Journal Square area.
@Doron Rice Journal Square is growing at an rapid pace and the transformation happening is almost clear as day.
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