38 and 92 Wayne Street Multi-Family FOR SALE


Jersey City, NJ - Downtown Jersey City
$5,000,000 USD
917-923-3266
, Jersey City, NJ for Sale
$5,000,000 USD
Multi-Family - FOR SALE
1/26
null | 5.84% Cap Rate

38 and 92 Wayne Street
Jersey City, NJ
Downtown Jersey City


HIGHLIGHTS

  • • 17 total residential units across two buildings; Two classic masonry buildings with long-term durability
  • • Prime Historic Downtown Jersey City location; Steps to Grove Street PATH, retail, dining, and nightlife
  • • 92 Wayne Street: 9 large 2BR / 1BA units (~825 SF)
  • • 38 Wayne Street: 8 1BR / 1BA units (~650 SF) plus bonus unit
  • • Tenants pay utilities; rents registered
  • • Professional management in place with Approx. $60,000 in recent façade improvements

OVERVIEW

Rare opportunity to acquire a 17-unit, two-building multifamily portfolio located in the heart of Historic Downtown Jersey City. 38 and 92 Wayne Street are historic masonry buildings offered as a single portfolio in one of the city’s most supply-constrained and high-demand rental submarkets. The asset provides immediate in-place cash flow with clear upside through targeted unit renovations and optimization of underutilized space. Opportunities of this scale and location trade infrequently and appeal to both long-term holders and value-add investors. The portfolio is currently stabilized with meaningful upside potential through a defined capital improvement program. Pro forma rents reflect strong market demand for renovated units in Historic Downtown Jersey City, supported by proximity to Manhattan and limited new supply.

ASK ABOUT THIS PROPERTY

Jesse ToledanoModern SpacesMore Info
917-923-3266

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Jesse ToledanoModern SpacesMore Info
917-923-3266

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.