Southside Jersey City Portfolio
Southside Jersey City Multifamily Portfolio
Marketing description
Marcus & Millichap is pleased to present the exclusive opportunity to acquire a four-building multifamily and mixed-use portfolio consisting of 73 apartment units and 5 retail suites located in Jersey City, New Jersey. In-place rents are below market, with an estimated 34% rent upside through unit renovations, tenant turnover, and operational improvements. Select units also offer the ability to reconfigure layouts and increase bedroom count, creating an additional income lever. The portfolio is located within a rapidly evolving corridor supported by major developments including Bayfront, Canal Crossing, and Caven Point Studios, driving long term demand and investment. The properties benefit from strong connectivity via the Hudson-Bergen Light Rail, Interstate 78, and the New Jersey Turnpike, providing access to Downtown Jersey City and Manhattan.
Investment highlights
- Rare Opportunity to Acquire a 73-Unit Multifamily Portfolio with 5 Retail Suites in Jersey City
- Attractive Basis On A Per Unit Below Replacement Cost in a Supply-Constrained Market '
- Estimated Rent Upside of 34% Through Renovation, Turnover, and Operational Improvements
- In-Place Rents Below Market Providing Immediate Mark-to-Market Opportunity
- Additional Income Potential Through Reconfiguration of Select Unit Layouts Clustered Buildings Enabling Operational Efficiency and Scaled Management
- Located in a Transforming Corridor Supported by Bayfront, Canal Crossing, and Caven Point Studios
- Flexible Exit with Ability to Operate as a Portfolio or Sell Individually
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