Brick Multi‑Family with Income Potential in Journal Square

This sturdy brick two‑story on Delaware Avenue delivers a rare combination: turn‑key rental income and classic early 20th‑century character in Jersey City’s Journal Square. Built in 1910 and configured as two primary units plus a finished basement suite, 202 Delaware Avenue totals approximately 2,585 square feet across a 2,025‑sqft lot with a 20.25‑ft frontage. From the street you’ll notice the original masonry and a simple, well‑maintained façade that signals low‑maintenance construction and long-term curb appeal.

Inside, the property reads as a functional multi‑family asset. Unit 1 is a 3‑bed/1‑bath residence currently yielding $1,995/month; Unit 2 offers three bedrooms, one bath and an additional den; and the finished basement contains a one‑bed/one‑bath suite—useful for either rental income or as flexible owner space. Heating is provided by radiators and cooling by window units; the roof is flat and the building shows an overall “average” condition consistent with a century‑old brick home that has been cared for without full modernization.

Investors will appreciate the current tenant occupancy and the estimated monthly gross rent of roughly $5,500 (market‑informed), producing a reported gross rental yield near 9.5%. Annual property taxes for 2025 are $6,286 (assessed total $281,500). The property sits on a level lot with on‑street parking only—there is no on‑site garage. Zoning is R‑1 (one‑ and two‑family housing), so buyers should confirm intended use and any renovation plans with the city.

Journal Square’s commuter orientation is a standout: the PATH and multiple bus routes are about a mile away, and Lincoln Park is only half a mile from the front door for quick access to green space. Nearby anchors include Hudson Mall and St. Peter’s University, supporting steady rental demand from students, commuters and local workers. Given the building’s age and the finished basement unit, interested buyers should verify permits and arrange a thorough inspection of the roof, mechanicals and any permitted upgrades. With steady neighborhood appreciation and solid occupancy, this property is positioned for an owner‑occupant who wants rental offset or an investor seeking an income asset in a commuter‑friendly Jersey City location.

Journal Square is a lively, transit-oriented neighborhood with a mix of long-standing residents, students and commuters. The area centers around the PATH and bus corridors, offering direct access to Manhattan and regional job centers. Nearby Lincoln Park provides open green space while Hudson Mall and local retail support everyday needs. The neighborhood’s diversity and steady development attract investors and renters alike, creating consistent demand for multi-family properties within walking distance of transit and services.