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35 Kensington AveJersey City, NJ 07304
35 Kensington Ave
Asset ClassMultifamily
# Units31
31 Units | 34% Upside | 6.41% Cap Rate | $186K PPU
overview of deal

Overview

Matthews™ is pleased to exclusively present for sale 35 Kensington Ave, Jersey City, NJ, a 31-unit multifamily investment opportunity located in the prime McGinley Square neighborhood. The offering presents a compelling value-add opportunity with approximately 34% upside and a 6.41% cap rate. The asset features renovated units, separately metered apartments, and on-site laundry. Recent capital improvements include a new water heater and boiler replaced in 2025, tenants are responsible for cooking gas and electric; the landlord covers water/sewer, common area electric, heat, and hot water.

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Investment Highlights

Value-Add Opportunity

  • 31 Units
  • 34% Upside
  • 6.41% Cap Rate
  • $186K Price Per Unit

Building Highlights

  • Brick Building
  • Renovated Units
  • Laundry in Basement
  • New Water Heater & Boiler Replaced in 2025
  • Separately metered units
  • Tenants pay for cooking gas & electric
  • Landlord pay for water/sewer, common area electric, heat, & hot water
  • Prime Location in McGinley Square

Convenient Transportation

  • The building is approximately a 2-minute walk to the JFK Blvd at Kensington Ave bus stop which provides a 20 minute ride to Manhattan via the PATH train.rain.
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35 Kensington AveJersey City, NJ 07304

Listing Team

David FerberVice President & Director, Multifamily

License #: 01469842 (NJ)

(201) 218-9156david.ferber@matthews.com
Kendra AntoineSales Analyst

License #: 2440903 (NJ)

(845) 642-3370kendra.antoine@matthews.com
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