820-824 Ave C - Apartments FOR SALE


Bayonne, NJ 07002
$6,507,000 USD
201-218-9156
820-824 Ave C, Bayonne, NJ for Sale
$6,507,000 USD
Apartments - FOR SALE
1/4
null | 5.68% Cap Rate

820-824 Ave C
Bayonne, NJ 07002


HIGHLIGHTS

  • 34 units across 2 brick buildings with 31% upside and 26/34 free market units
  • 8.49% pro forma cap rate with $552,441 projected stabilized NOI
  • 23 renovated units with recent capital improvements including boiler and water heater replacements
  • 9-minute walk to 34th Street light rail stop — 20-minute trip to Manhattan via PATH Train
  • Each building features Amazon Lockers and laundry in the basement
  • Renters occupy 61% of Bayonne's housing stock, supporting strong rental demand

OVERVIEW

820-824 Avenue C presents the opportunity to acquire a 34-unit multifamily asset consisting of two brick apartment buildings in Bayonne, New Jersey. The offering combines current cash flow with a value-add component, supported by a unit mix that includes 26 free-market apartments and a stated 23% upside potential. Recent capital improvements and ongoing property maintenance provide a foundation for future ownership while allowing investors to pursue operational and revenue enhancements. The property benefits from a location along Avenue C, one of Bayonne's established neighborhood corridors, providing residents with convenient access to local retail, services, and daily necessities. Regional connectivity further supports tenant demand, with the property located approximately a nine-minute walk from the 34th Street Hudson-Bergen Light Rail station. The station offers access to the PATH system, connecting commuters to Manhattan in approximately 20 minutes. This accessibility supports the property's appeal to residents seeking convenient transportation options within the New York metropolitan area. Building improvements include 23 renovated units, fire escape upgrades completed in 2026, a boiler replacement at 824 Avenue C in 2024, and a water heater replacement at 820 Avenue C in 2026. Additional features include basement laundry facilities and Amazon lockers in each building. Tenants are responsible for electric and cooking gas expenses, while ownership pays for heat, hot water, and water/sewer services. The combination of recent improvements, transportation access, and future income growth potential positions the asset for investors seeking a multifamily acquisition in Hudson County.

FOR SALE DETAILS

PRICE

$6,507,000 USD

PRICE/SF

$384 USD /SF

# OF UNITS

34

PRICE/UNIT

$191,382

CAP RATE

5.68%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

820-824 Avenue C

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

5,001 SF

ZONING

R-2

APN/PARCEL ID

01-00120-0000-00032

ASK ABOUT THIS PROPERTY

David FerberMatthews Real Estate Investment ServicesMore Info
201-218-9156

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David FerberMatthews Real Estate Investment ServicesMore Info
201-218-9156

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