Modern Four-Unit
New
For Sale
$1,799,000
612 12TH ST, Union City, NJ 07087
3-4 Family, Union City, NJ
Property Size8,286 SF
Lot Size0.10 Acres
Price / SF$217.11
Days on Market2
Property Features for 612 12TH ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bedroom 5, Bathroom 6, Bathroom 7, Bedroom 2, Bathroom 5, Bedroom 1, Bedroom 6, Bathroom 8, Bedroom 8, Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 4, Bedroom 4, Bedroom 7
Directions
Central Ave & Morris Street
Subdivision
Union City
Standard status
Active
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
27873
Amenities
in-unit washer/dryer
security systems
superintendent
Listing Agency:
BROWN HARRIS STEVENS NEW JERSEY
(201) 478-6700
Listed By:
WESTLEY PAGE · License #1644035
(201) 478-6700
Added: Aug 27
Last Checked: Aug 28 at 7:06PM
MLS# 260017153
Copyright © 2026 Realty MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Constructed in 2018, this 8,286-square-foot quadplex contains four two-bedroom, two-bathroom apartments ranging from 1,076 to 1,235 square feet. The units include separate utility meters, in-unit washers and dryers, red oak hardwood floors, central heating and air conditioning, granite countertops, stainless steel appliances, mosaic tile kitchen accents, and subway tile bathrooms. One apartment also includes a private patio.
The property sits on a 25 x 178 lot and provides six dedicated parking spaces, with one assigned to each apartment. Building systems include a central fire alarm, security systems, and a whole-building sprinkler system. A live-in superintendent is available around the clock for on-site maintenance and tenant support.
Access to Route 3, Route 495, and Route 9 supports regional travel. Bus service to Port Authority takes less than 30 minutes, and parks, restaurants, shopping, and grocery stores are nearby.
The property sits on a 25 x 178 lot and provides six dedicated parking spaces, with one assigned to each apartment. Building systems include a central fire alarm, security systems, and a whole-building sprinkler system. A live-in superintendent is available around the clock for on-site maintenance and tenant support.
Access to Route 3, Route 495, and Route 9 supports regional travel. Bus service to Port Authority takes less than 30 minutes, and parks, restaurants, shopping, and grocery stores are nearby.
Key Highlights
- Four 2‑bedroom, 2‑bathroom apartments in an 8,286‑square‑foot building
- Built in 2018 on a 25 x 178 lot
- Apartment sizes range from 1,076 to 1,235 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$138,676
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,773,520
$2.8M
Cap Rate 7%
$1,981,086
$2.0M
Cap Rate 9%
$1,540,844
$1.5M
Market Conditions
NOI Build-Up for 8,286 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$211.8K $25.56/SF
− Vacancy
−$13.7K −$1.65/SF
EGI
$198.1K $23.91/SF
− OpEx
−$59.4K −$7.17/SF
NOI
$138.7K $16.74/SF
Area
Hudson County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,773,520
Cap Rate 7%
$1,981,086
Cap Rate 9%
$1,540,844
Alternative Uses
Best Use
Multifamily LT 5
$1.98M
$1.73M – $2.31M
NOI $138,676 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,422 @ 7.0% cap · market cap 7.08%
Theoretical Best
Warehouse
$3.00M
$2.63M – $3.50M
NOI $210,031 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,212
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four contemporary apartments feature private utilities, assigned parking, and in-unit laundry.
Where is this quadplex located?
The property is located at 612 12TH ST Union City, NJ.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Four 2‑bedroom, 2‑bathroom apartments in an 8,286‑square‑foot building; Built in 2018 on a 25 x 178 lot; Apartment sizes range from 1,076 to 1,235 square feet
