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Introducing a remarkable opportunity for enhanced income generation—a 4-family property situated on prime Lot! Take advantage of this R-1 zoned property that allows for 2 units without a variance. But that’s not all—there are exciting avenues to explore to maximize its potential. Consider the recently passed “Affordable Housing Overlay, ” which enables building code compliant units while accommodating as many as possible, with a requirement of 10% affordable units. Engage with an architect to determine the ideal unit count within the building code limits, and envision the possibilities of creating a 4-family property that yields substantial income. In addition, keep a close watch on the upcoming zoning changes set to go before the city council. If approved, the R-1 density standard will increase to an impressive 42 units per acre, granting a potential of 7 units for the 85 Highland location. This opens up the opportunity to develop a 4-family property, offering even greater income potential. Don’t miss out on this exceptional chance to secure a 4-family property for enhanced income generation. Act now to seize the potential of this vacant land and embark on a profitable real estate venture!
Listed by JILL BIGGS of COLDWELL BANKER REALTY

Property Details of 85-87 Highland Avenue

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 Based on information submitted to NJ_HCMLS_RETS as of October 4, 2023 6:47 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

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