Investment Overview

Marcus & Millichap is pleased to present the compelling multifamily investment asset located at 3388 John F Kennedy Boulevard in Jersey City, New Jersey. This value-add, walk-up apartment building is strategically positioned in The Heights, one of the metro’s most desirable neighborhoods, near the rapidly developing Journal Square district. The property features classic brick construction, offering long-term durability, strong curb appeal, and lower ongoing maintenance costs. A large basement area is currently underutilized, presenting a unique opportunity for additional income through storage, laundry, or other ancillary uses, subject to buyer due diligence. Furthermore, a significant portion of the value proposition lies in the operational flexibility at acquisition. Five units will be delivered vacant at closing, providing an investor with immediate control over renovations, leasing strategy, and rent resets without the delays or risks caused by tenant turnover. Likewise, investors can realize a significant upside through lease-up due to several existing leases that are priced 90 percent below-market. This dramatic rent growth potential, combined with the vacant units and the flexible space in the basement, positions the property as an exceptional investment for buyers seeking both near-term upside and long-term appreciation in a supply-constrained urban submarket.