Multifamily
3405 Kennedy Boulevard
3405 John F. Kennedy Blvd, Jersey City, NJ 07307
Listing Price: $4,300,000
Investment Overview
Marcus & Millichap is pleased to present for sale the multifamily property located at 3405 John F. Kennedy Boulevard in Jersey City, New Jersey.
This 21-unit brick walk-up apartment building offers a compelling value-add opportunity in the highly sought-after Heights neighborhood. With
the potential to enhance rental income through strategic unit reconfiguration, within the capital improvement program convert one-third of the
vacant units into additional bedrooms. Additionally, the large basement presents an opportunity for additional income through storage rentals or
the development of an extra unit. The property also features a 28 percent upside in current rents, providing future revenue growth potential.
Recent capital expenditures, including a new boiler and roof, ensure operational efficiency and reduce near-term maintenance costs. Situated in
one of Jersey City’s most desirable areas, the stabilized property benefits from strong rental demand, excellent connectivity to Manhattan, and
proximity to local amenities, employment hubs, and public transportation.
Exclusively Listed By
Listing Price: $4,300,000
Investment Highlights
- 21 Unit Value Add Deal
- 7 Vacant Units
- Almost 30% Upside In Current Occupied Rents
- Recent Capital Expenditures - New Boiler & New Rood
- Short Term Seller Financing Available
Investment Overview
Marcus & Millichap is pleased to present for sale the multifamily property located at 3405 John F. Kennedy Boulevard in Jersey City, New Jersey. This 21-unit brick walk-up apartment building offers a compelling value-add opportunity in the highly sought-after Heights neighborhood. With the potential to enhance rental income through strategic unit reconfiguration, within the capital improvement program convert one-third of the vacant units into additional bedrooms. Additionally, the large basement presents an opportunity for additional income through storage rentals or the development of an extra unit. The property also features a 28 percent upside in current rents, providing future revenue growth potential. Recent capital expenditures, including a new boiler and roof, ensure operational efficiency and reduce near-term maintenance costs. Situated in one of Jersey City’s most desirable areas, the stabilized property benefits from strong rental demand, excellent connectivity to Manhattan, and proximity to local amenities, employment hubs, and public transportation.
Exclusively Listed By
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