Invest in Bergen Lafayette in Jersey City

[Yang Zhuang]

Hi All, I’m thinking about purchasing a  multi-family house in Bergen Lafayette for investment. Does the area still have room to grow? How much should I expect to pay for a 4 family renovated house? Also, I have seen a lot of vacant apartments at the Beacon, are the apartments hard to rent out currently in the area? 

[Shanna Midelton]

Same here. Thinking about bergen lafayette outside of communipaw. Focused on the more quiet blocks closer to light rail and away from ocean and mlk. I worry that the prices are misaligned to rental income. Any idea what's driving prices so rapidly in this neighborhood? 2 fams are going upwards of 700k.

The activity on ocean and MLK gives me pause that prices might be overinflated but I see the potential in 5-10 years. 

thoughts?