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386 Bergen Ave
Jersey City, NJ 07304
386 Bergen Ave. LLC · Multifamily Property For Sale
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7 Units
Executive Summary
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 Facts
| Price Per Unit | $207,143 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 6.20% | Building Size | 3,300 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1920/2015 |
| Price Per Unit | $207,143 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 3,300 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1920/2015 |
Property Taxes
| Parcel Number | 06-19503-0000-00078 | Improvements Assessment | $714,800 |
| Land Assessment | $245,000 | Total Assessment | $959,800 |
Property Taxes
Parcel Number
06-19503-0000-00078
Land Assessment
$245,000
Improvements Assessment
$714,800
Total Assessment
$959,800
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