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190-192 Van Nostrand Ave
Jersey City, NJ 07305
Southside Jersey City Portfolio · Multifamily Property For Sale
Investment Highlights
- Rare Opportunity to Acquire a 73-Unit Multifamily Portfolio with 5 Retail Suites in Jersey City
- Estimated Rent Upside of 34% Through Renovation, Turnover, and Operational Improvements
- Additional Income Potential Through Reconfiguration of Select Unit Layouts
- Attractive Basis at $141,564 Per Unit Below Replacement Cost in a Supply-Constrained Market
- In-Place Rents Below Market Providing Immediate Mark-to-Market Opportunity | Flexible Exit with Ability to Operate as a Portfolio or Sell Individually
- Located in a Transforming Corridor Supported by Bayfront, Canal Crossing, and Caven Point Studios
Executive Summary
Marcus & Millichap is pleased to present the exclusive opportunity to acquire a four-building multifamily and mixed-use portfolio consisting of 73 apartment units and 5 retail suites located in Jersey City, New Jersey.
The portfolio generates approximately $662,492 in Net Operating Income and is offered at a basis of $141,564 per unit, providing an attractive entry point relative to replacement cost.
In-place rents are below market, with an estimated 34% rent upside through unit renovations, tenant turnover, and operational improvements. Select units also offer the ability to reconfigure layouts and increase bedroom count, creating an additional income lever.
The portfolio is located within a rapidly evolving corridor supported by major developments including Bayfront, Canal Crossing, and Caven Point Studios, driving long-term demand and investment.
The properties benefit from strong connectivity via the Hudson-Bergen Light Rail, Interstate 78, and the New Jersey Turnpike, providing access to Downtown Jersey City and Manhattan.
The portfolio generates approximately $662,492 in Net Operating Income and is offered at a basis of $141,564 per unit, providing an attractive entry point relative to replacement cost.
In-place rents are below market, with an estimated 34% rent upside through unit renovations, tenant turnover, and operational improvements. Select units also offer the ability to reconfigure layouts and increase bedroom count, creating an additional income lever.
The portfolio is located within a rapidly evolving corridor supported by major developments including Bayfront, Canal Crossing, and Caven Point Studios, driving long-term demand and investment.
The properties benefit from strong connectivity via the Hudson-Bergen Light Rail, Interstate 78, and the New Jersey Turnpike, providing access to Downtown Jersey City and Manhattan.
Property Facts
| Sale Condition | Bulk/Portfolio Sale | Number of Properties | 4 |
| Cap Rate | 6.40% | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 55,605 SF |
| Status | Active | Total Land Area | 0.43 AC |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 6.40% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 55,605 SF |
| Total Land Area | 0.43 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 190-192 Van Nostrand Ave, Jersey City, NJ 07305 | Multifamily | 17,220 SF | 1928 | - |
| 150 Stegman St, Jersey City, NJ 07305 | Multifamily | 14,562 SF | - | - |
| 80 Martin Luther King Jr Dr, Jersey City, NJ 07305 | Multifamily | 13,506 SF | 1926 | - |
| 200 Dwight St, Jersey City, NJ 07305 | Multifamily | 10,316 SF | - | - |
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