Jersey City, NJ 07304 · Investment · For Sale · MLS 260013457
386 Bergen Ave
$1,450,000
Investment
Use
7
Units
15
Days Listed
About this property
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.
Property specifications
The details
Property TypeCI Investment
SubtypeInvestment
UseInvestment
OfferedFor Sale
LocationJersey City, NJ 07304
MLS #260013457
Space
Units7
Stories4
Building systems
SprinklersNone
Zoning & permitted use
Zoning and permitted-use codes are not published in the MLS IDX feed, so this page does not state one. Before you sign a lease or a contract, permitted use has to be confirmed with the Jersey City zoning office. Andrew Diaz can pull the full broker file and work that question through with you.
Location
Questions about this property
What is the asking price for 386 Bergen Ave?
The asking price is $1,450,000.
What is 386 Bergen Ave zoned for?
Zoning is not published in the MLS IDX feed, so this page does not state one. The listing describes the property as Investment, but permitted use must be confirmed with the Jersey City zoning office before you sign anything. Andrew Diaz can pull the full file and work that question through with you.
How do I tour 386 Bergen Ave?
Call or text Andrew Diaz at (551) 235-3473. He can arrange a walkthrough, pull the full broker file, and represent you through the purchase.
