934 Pavonia Avenue, Jersey City, NJ

About this property

Prominent Properties Commercial is pleased to present the exclusive opportunity to acquire 934 Pavonia Avenue, a well-positioned nine (9) unit multifamily property located in the highly sought-after Journal Square / Marion Section of Jersey City, New Jersey. This three-story asset offers investors a compelling blend of in-place cash flow and value-add upside, making it an ideal acquisition for both private and institutional buyers seeking long-term growth within one of Northern New Jersey’s most dynamic rental markets. The property consists of nine residential units, of which five (5) units have been renovated, featuring updated interiors that command strong market rents. The remaining four (4) units present a clear value-add opportunity, allowing a new owner to implement a strategic renovation program to significantly increase rental income and overall asset value. Strategically located just minutes from Journal Square PATH Station, the property benefits from direct connectivity to New York City, positioning it as an attractive option for commuters. The surrounding neighborhood continues to experience rapid development, supported by ongoing residential and mixed-use projects, further enhancing rental demand and long-term appreciation potential. The offering represents an opportunity to acquire a stabilized yet under-optimized asset in a high-growth urban submarket, where investors can capitalize on strong rental fundamentals, limited vacancy exposure, and the ability to drive NOI through targeted capital improvements. 934 Pavonia Avenue presents a rare opportunity to invest in a core-plus multifamily asset with both immediate income and significant upside in one of the most desirable rental corridors in the New York Metropolitan Area. The property offers a proven value-add opportunity through interior unit renovations, with upgraded units commanding significant rent premiums over classic units. The community's 3-story walk-up design minimizes operating complexity and capital requirements compared to elevator-served high-rise properties. - 9-Unit Multifamily Asset in Prime Jersey City Location Well-positioned property in the rapidly evolving Journal Square submarket with strong rental demand and long-term appreciation potential - Attractive Value-Add Opportunity 4 classic units provide clear upside through interior renovations and rent repositioning - Proven Renovation Premium 5 units already renovated, demonstrating achievable rent increases and validating upgrade strategy - Strong In-Place Cash Flow Stabilized income stream with immediate yield and limited near-term operational risk - Mark-to-Market Rent Potential Opportunity to increase rents through targeted capital improvements and operational efficiencies - Transit-Oriented Location Convenient access to Journal Square PATH station providing direct connectivity to Manhattan - High-Demand Rental Submarket Jersey City continues to benefit from population growth, NYC migration, and limited housing supply - Efficient Unit Layouts with Broad Tenant Appeal Functional floor plans with strong natural light, appealing to a wide renter base - Low Capital Execution Risk Renovation scope primarily cosmetic, minimizing construction complexity and downtime

Property highlights

Building size

6,198 SF

Lot size

0.081 acres

Year built

1924

County

Hudson

Map position is based on listing coordinates. Confirm access, entrances, and boundaries with the listing team; the marker is not a parcel survey.