12-Unit Value-Add Brick
803 22nd Street Union City, NJ 07087
803 22nd Street, Union City, NJ, 07087
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For Sale
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Twelve-unit brick multifamily building offered for sale as a value-add opportunity.
Property Size7,800 SF
Price / SF$220.26
Days on Market85
Property Features for 803 22nd Street
General Information
- Standard status
- Active
- Size
- 7,800 SF
- Property subtype
- Retail, Multifamily
Building Details
- Year Built
- 1900
Listing agency
Matthews
Listed by
David Ferber · License #1974915
Source
Crexi
Added: Apr 28 Updated: Jul 20 at 4:26PM Checked: Jul 20 at 4:26PM
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 Matthews
Investment Insights
Based on property information with market context.
This offering features a 12-unit brick multifamily building presented as a value-add property. The asset is structured as a residential income property with multiple units under one ownership.
The property is located at 803 22nd Street in Union City, NJ, near Midtown Manhattan.
With a total property size of 7,800 square feet, the building provides a straightforward income-property configuration for investors and buyers evaluating value-add multifamily opportunities.
The property is located at 803 22nd Street in Union City, NJ, near Midtown Manhattan.
With a total property size of 7,800 square feet, the building provides a straightforward income-property configuration for investors and buyers evaluating value-add multifamily opportunities.
Key Highlights
- 12‑unit brick multifamily building
- Built in 1900
- Stated 6.65% cap rate
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $234.0k | $30.00 |
| − Vacancy | −$15.9k | −$2.04 |
| EGI | $218.1k | $27.96 |
| − OpEx | −$98.1k | −$12.58 |
| NOI | $119.9k | $15.38 |
7,800 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.50M – $2.00M
NOI $119,948 @ 7.0% cap · market cap 6.98%
Second Best
Retail
$1.59M
$1.39M – $1.86M
NOI $111,332 @ 7.0% cap · market cap 6.48%
Theoretical Best
Warehouse
$2.82M
$2.47M – $3.30M
NOI $197,712 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Apartment building - Twelve-unit brick multifamily building offered for sale as a value-add opportunity.
Where is this apartment building located?
The property is located at 803 22nd Street Union City, NJ.
What is the asking price?
The asking price for this property is $1,718,000.
What are key features of this property?
This property features: 12‑unit brick multifamily building; Built in 1900; Stated 6.65% cap rate
