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820 Avenue C, Bayonne, NJ 824 Avenue C, Bayonne, NJ
820-824 Avenue C
Asset ClassMultifamily
# Units: 34# Buildings: 2Access Data Room
overview of deal

Overview

Matthews™ has been selected to exclusively market for sale this multifamily opportunity consisting of 34 units across 2 brick buildings, prime location on Avenue C in Bayonne, NJ. The property offers 31% upside and a 8.49% pro forma cap rate, with 26 of the 34 units at free market rents and 23 units already renovated. Recent capital improvements include a redone fire escape in 2026, a boiler replacement at 824 Avenue C in 2024, and a water heater replacement at 820 Avenue C in 2026, and each building offers Amazon Lockers for tenants. The buildings feature laundry in thebasement, and tenants are responsible for electric and cooking gas, while the landlord covers heat, hot water, and water/sewer.

Investment Highlights

Value-Add Opportunity

  • 34 Units
  • 2 Buildings
  • 26/34 Free Market Units
  • 31% Upside
  • 8.49% Pro Forma Cap Rate

Building Highlights

  • 2 Brick Buildings
  • 23 Renovated Units
  • Laundry in Basement
  • Fire Escape Redone in 2026
  • 824 Ave Boiler Replaced in 2024
  • 820 Water Heater Replaced in 2026
  • Each Building has Amazon Lockers
  • Tenants pay for electric & cooking gas
  • Landlord pays heat, hot water, & water/sewer
  • Prime location on Avenue C

Convenient Transportation

  • The buildings are approximately a 9-minute walk to the 34th Street light rail stop which provides a 20-minute trip to Manhattan via the PATH Train.
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820 Avenue CBayonne, NJ 07002

Listing Team

David Ferber, CPASenior Vice President & Director

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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