386 Bergen Ave, Jc, West Bergen, NJ 07304

Property Description

Acquire a well-located 7-unit multifamily property with immediate upside. Offered at an attractive 6.2% going-in capitalization rate, the asset presents a clear path to increased cash flow through mark-to-market rent growth and expense optimization. Investors can capitalize on below-market rents, improve operational efficiencies, and unlock significant NOI growth over time. 386 Bergen Avenue, located in the heart of Bergen-Lafayette neighborhood, Jersey City's fastest-evolving submarket. The Property has been comprehensively overhauled by current ownership, delivering modern, well-functioning units with hardwood floors, renovated kitchens and baths, central HVAC, and a recently repaired roof. Each unit measures approximately 1,000 square feet, and six of the seven units are configured as 2-bed/2-bath. A large-format mural by acclaimed Jersey City artist BK Foxx — titled "Maybe It's Me"? and completed in 2019 — adorns the building's eastern facade. Bounded by the Hudson-Bergen Light Rail, Liberty State Park, and the Communipaw and MLK Drive commercial corridors. Door-to-Lower-Manhattan commute is 25-35 minutes via the Hudson-Bergen Light Rail + PATH connection.