17-Unit Apartment
For Sale
Contact for pricing
518 11th Street, Union City, NJ 07087
Three-property multifamily portfolio with predominantly two-bedroom units and on-street parking in an established urban residential setting.
Property Size14,000 SF
Lot Size0.17 Acres
Price / SF$171.43
Days on Market106
Property Features for 518 11th Street
General Information
Standard status
Active
Size
14,000 SF
Lot size
0.17 Acres
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$152,897
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
17 x 2BR/1BA, 2 x Studio
Multifamily Units
19
Building Details
Year Built
1898
Buildings
3
Units
19
Listing Agency:
Horvath & Tremblay
Listed By:
Michael Lombardi · License #0569706
(201) 215-1801
Source:
Crexi
Added: Jul 6
Changed: Oct 11
Last Checked: Oct 16 at 7:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horvath & Tremblay
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Investment Insights
Based on property information with market context.
This apartment portfolio comprises three properties at 518 11th Street, 521 12th Street, and 410 Monastery Place in Union City, New Jersey. The combined configuration includes seventeen 2-bedroom/1-bathroom apartments and two studio units, providing 12,375 square feet of gross living area within 14,000 square feet of gross area. The properties were built in 1898 and occupy 0.17 acres, with on-street parking serving the portfolio.
The two 11th and 12th Street buildings each contain six 2-bedroom/1-bathroom units. The Monastery Place property adds five 2-bedroom/1-bathroom apartments and two studios. The portfolio is positioned within established residential neighborhoods near neighborhood retail, local dining, and community amenities, with access to Kennedy Boulevard, Bergenline Avenue, Route 495, and the New Jersey Turnpike.
The two 11th and 12th Street buildings each contain six 2-bedroom/1-bathroom units. The Monastery Place property adds five 2-bedroom/1-bathroom apartments and two studios. The portfolio is positioned within established residential neighborhoods near neighborhood retail, local dining, and community amenities, with access to Kennedy Boulevard, Bergenline Avenue, Route 495, and the New Jersey Turnpike.
Key Highlights
- 17 total units: seventeen 2‑bedroom/1‑bathroom apartments and two studio units
- 12,375 square feet of gross living area within 14,000 square feet of gross area
- Three properties at 518 11th Street, 521 12th Street, and 410 Monastery Place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$215,292
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,305,840
$4.3M
Cap Rate 7%
$3,075,600
$3.1M
Cap Rate 9%
$2,392,133
$2.4M
Market Conditions
NOI Build-Up for 14,000 SF
Gross rent
$420.0K $30.00/SF
− Vacancy
−$28.6K −$2.04/SF
EGI
$391.4K $27.96/SF
− OpEx
−$176.1K −$12.58/SF
NOI
$215.3K $15.38/SF
Area
Hudson County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,305,840
Cap Rate 7%
$3,075,600
Cap Rate 9%
$2,392,133
Alternative Uses
Best Use
Apartment 5plus
$3.08M
$2.69M – $3.59M
NOI $215,292 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.07M
$4.44M – $5.91M
NOI $354,868 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
19
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,212
Businesses Nearby
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Business Placement
Demographics for 07087, NJ
68,611
Population
27,442
Households
2.5
Avg Household Size
36
Median Age
28%
College-Educated
77%
High-School Grad
1.3 sq mi
ZIP Area
52,778
Density / Sq Mi
$65,369
Median Household Income
$35,041
Median Earnings
$1,489
Median Rent
$446,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-property multifamily portfolio with predominantly two-bedroom units and on-street parking in an established urban residential setting.
Where is this apartment building located?
The property is located at 518 11th Street Union City, NJ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 17 total units: seventeen 2‑bedroom/1‑bathroom apartments and two studio units; 12,375 square feet of gross living area within 14,000 square feet of gross area; Three properties at 518 11th Street, 521 12th Street, and 410 Monastery Place
