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Updated almost 7 years ago on . Most recent reply

User Stats

203
Posts
43
Votes
Drew Slew
  • Rental Property Investor
  • Union city, NJ
43
Votes |
203
Posts

Greenville or West New York multifam

Drew Slew
  • Rental Property Investor
  • Union city, NJ
Posted

Appreciate all the BP expert advices! i got two offers atm accepted, need to decide quick:

- Ocean and Bayview ave- 2 family, 6 bed 2 bath, turnkey, offer at 395k. quite big, small attached garage, big 2 floors 3 bedrooms in each. basement not finished. area as previous people said - war zone in some way - but then again i could probably take it for a while. WOOD. only has washer dryer hookups. backyard.

- Palisade and 60th st in West New York - BRICK 2 family, 3 bed 3 bath offer at 376k - each floor has a 1 bedroom 1 bath unit. Almost half the size of the greenville one, BUT much nicer area, closeby to lightrail and BRICK. no parking though... needs a little renovation in the second floor kitchen and painting, but overall turnkey also.has washer dryer. backyard garden and shed.

returns are somewhat similar although if i am realistic can squeeze out quite a lot from the west new york one. not so sure about the greenville one - havent been there myself much.

IMO renting a 3 bedroom 1 bath seesm quite tough, and fetches same as a 1 bed 1 bath in west new york area - which is full of businesses, people.

on the other hand, greenville is on fire and the property is nice, brand new, could be big appreciation in 5 yrs or so?

Any ideas welcome

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