38 and 92 Wayne Street
2 Building Portfolio for Sale
Marketing description
17-Unit Multifamily Portfolio | Historic Downtown
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.
Investment highlights
· 17 total residential units across two adjacent buildings
· Prime Historic Downtown Jersey City location
· Steps to Grove Street PATH, retail, dining, and nightlife
· Two classic masonry buildings with long-term durability
· 92 Wayne Street: 9 large 2BR / 1BA units (~825 SF)
· 38 Wayne Street: 8 1BR / 1BA units (~650 SF) plus bonus unit
· Tenants pay utilities; rents registered
· Professional management in place
· Approx. $60,000 in recent façade improvements
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