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38 and 92 Wayne Street 2 Multifamily Properties Offered at $5,000,000 in Jersey City, NJ
Investment Highlights
- • 17 total residential units across two buildings; Two classic masonry buildings with long-term durability
- • 92 Wayne Street: 9 large 2BR / 1BA units (~825 SF)
- • Tenants pay utilities; rents registered
- • Prime Historic Downtown Jersey City location; Steps to Grove Street PATH, retail, dining, and nightlife
- • 38 Wayne Street: 8 1BR / 1BA units (~650 SF) plus bonus unit
- • Professional management in place with Approx. $60,000 in recent façade improvements
Executive Summary
Rare opportunity to acquire a 17-unit, two-building multifamily portfolio located in the heart of Historic Downtown Jersey City. 38 and 92 Wayne Street are historic masonry buildings offered as a single portfolio in one of the city’s most supply-constrained and high-demand rental submarkets.
The asset provides immediate in-place cash flow with clear upside through targeted unit renovations and optimization of underutilized space. Opportunities of this scale and location trade infrequently and appeal to both long-term holders and value-add investors.
The portfolio is currently stabilized with meaningful upside potential through a defined capital improvement program. Pro forma rents reflect strong market demand for renovated units in Historic Downtown Jersey City, supported by proximity to Manhattan and limited new supply.
The asset provides immediate in-place cash flow with clear upside through targeted unit renovations and optimization of underutilized space. Opportunities of this scale and location trade infrequently and appeal to both long-term holders and value-add investors.
The portfolio is currently stabilized with meaningful upside potential through a defined capital improvement program. Pro forma rents reflect strong market demand for renovated units in Historic Downtown Jersey City, supported by proximity to Manhattan and limited new supply.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $5,000,000 | Number of Properties | 2 |
| Price / SF | $355.92 / SF | Individually For Sale | 0 |
| Cap Rate | 5.84% | Total Building Size | 14,048 SF |
| Sale Type | Investment | Total Land Area | 0.12 AC |
| Status | Active |
| Price | $5,000,000 |
| Price / SF | $355.92 / SF |
| Cap Rate | 5.84% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 14,048 SF |
| Total Land Area | 0.12 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 92 Wayne St, Jersey City, NJ 07302 | Multifamily | 7,512 SF | 1900 | - |
| 38 Wayne St, Jersey City, NJ 07302 | Multifamily | 6,536 SF | 1887 | - |
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38 and 92 Wayne Street
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