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590 Bergen AveJersey City, NJ 07304
590 Bergen Ave
Asset ClassMultifamily
# Units26
26 Units | 14 Parking Spots | 28% Upside | 6.55% Cap Rate
overview of deal

Overview

Matthews™ is pleased to exclusively present for sale 590 Bergen Ave, Jersey City, NJ, a 26-unit multifamily investment opportunity located in the prime McGinley Square neighborhood. The offering presents a compelling value-add opportunity with approximately 28% upside and a 6.55% cap rate. The asset features renovated units, separately metered apartments, on-site laundry and 14 parking spots. Tenants are responsible for heat, hot water, cooking gas and electric; the landlord covers water/sewer and common area electric.

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Investment Highlights

Value-Add Opportunity

  • 26 Units
  • 28% Upside
  • 6.55% Cap Rate

Building Highlights

  • Brick Building
  • 14 Parking Spots
  • Renovated Units
  • Laundry in Basement
  • Separately metered units
  • Tenants pay for heat, hot water, cooking gas & electric
  • Landlord pay for water/sewer & common area electric
  • Prime Location in McGinley Square

Convenient Transportation

  • The building is approximately a 5-minute walk to the JFK Blvd at Kensington Ave bus stop which provides a 20 minute ride to Manhattan via the PATH train.
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590 Bergen 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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