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38 and 92 Wayne Street 2 Multifamily Properties Offered at $4,950,000 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 of the 4 units that will delivered vacant. Request Excel for more detailed financial information.
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 of the 4 units that will delivered vacant. Request Excel for more detailed financial information.
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2027) |
Annual |
|---|---|
| Gross Rental Income |
$466,201
|
| Other Income |
-
|
| Vacancy Loss |
$13,986
|
| Effective Gross Income |
$452,215
|
| Taxes |
$57,819
|
| Operating Expenses |
$49,480
|
| Total Expenses |
$107,299
|
| Net Operating Income |
$344,916
|
Taxes & Operating Expenses (Actual - 2027)
| Gross Rental Income | |
|---|---|
| Annual | $466,201 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | $13,986 |
| Effective Gross Income | |
|---|---|
| Annual | $452,215 |
| Taxes | |
|---|---|
| Annual | $57,819 |
| Operating Expenses | |
|---|---|
| Annual | $49,480 |
| Total Expenses | |
|---|---|
| Annual | $107,299 |
| Net Operating Income | |
|---|---|
| Annual | $344,916 |
Property Facts
| Price | $4,950,000 | Number of Properties | 2 |
| Price / SF | $352.41 / SF | Individually For Sale | 0 |
| Cap Rate | 6.97% | Total Building Size | 14,046 SF |
| Sale Type | Investment | Total Land Area | 0.12 AC |
| Status | Active |
| Price | $4,950,000 |
| Price / SF | $352.41 / SF |
| Cap Rate | 6.97% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 14,046 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 | 6,534 SF | 1887 | - |
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38 and 92 Wayne Street