715 22Nd St Union City, NJ 07087

This 8-unit multifamily property is located in Union City and offers a mix of one, two, and three-bedroom units. The property is efficiently operated with well-managed expenses covering insurance, taxes, utilities, and professional management fees. The Union City and Hudson County multifamily submarkets primarily serve middle-class families and young professionals seeking affordable living with access to New York City. These areas are densely populated and offer competitive rents within the New York metro area. Much of the rental inventory is near major transportation routes such as the NJ Turnpike, Route 3, and the Lincoln Tunnel, making it suitable for commuters working in Manhattan and nearby employment hubs. Historically, demand in Union City and Hudson County has exceeded supply, with limited new development maintaining low vacancy rates and high occupancy. Vacancy rates remain tight at 2.9%, indicating a continued supply shortage. Rents have grown by 5.1% over the past year, driving investment interest in the market. Over the past 12 months, $320 million worth of multifamily properties have been traded. The property size is 3158 square feet.