57 Grove St, Hackensack, NJ 07601

This legal 3-family residence at 57 Grove Street in Hackensack, NJ, presents a turnkey investment opportunity with immediate cash flow potential. The property is fully occupied and maintained, designed for investors seeking rental income. Each tenant is responsible for their own utility payments, contributing to lower operational overhead for the owner. The building offers a total of 6 bedrooms and 4 bathrooms across its units, with a total finished square footage of 2,340. The lot size measures 50 x 101 feet, totaling 5,049 square feet.

Significant updates have been made to the building's essential systems. Unit 1 is equipped with a boiler and water heater that are both approximately 3 years old, ensuring efficiency and reliability. Unit 3 features a boiler that is new and a water heater that was replaced just 1 year ago. These recent upgrades contribute to the property's overall condition and reduce the likelihood of immediate capital expenditures related to these systems.

The property is a legal triplex, meaning it is fully compliant with zoning regulations. This compliance eliminates potential legal complications and supports the long-term value of the asset. The building, constructed in 1916, has been adapted to function as a multi-family dwelling. It offers a total of 12 rooms, providing ample living space within each unit.

Conveniently located, 57 Grove Street provides easy access to major highways, facilitating commutes and travel. Residents will find themselves minutes away from schools, shopping centers, dining establishments, and public transportation options, enhancing the desirability of the location for tenants. The property includes parking for 6 vehicles, a notable amenity for residents in the area.

This residential income property is situated in Bergen County. The annual property taxes are $14,942. The property is connected to electricity, and tenants are responsible for their own utility usage. The building is a 2-story structure, offering a functional layout for its multi-family designation.