41
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$1,375,000
Est. payment /mo
12 Baths
Price Dropped by $75K
386 BERGEN AVE Jc West Bergen, NJ 07304
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Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260013457
Full Baths 12
Lot Dimensions 33.14 x 100
Property Sub-Type Investment
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.
Location
State NJ
County Hudson
Area Jc West Bergen
Listed by EXP REALTY LLC
Nearby Locations
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