16-Unit Multifamily Apartment
915 22nd St Union City, NJ 07087
915 22nd St, Union City, NJ, 07087
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For Sale
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For-sale 16-unit apartment building positioned near Manhattan transit with stated 7% cap rate potential.
Property Size11,900 SF
Price / SF$195.55
Days on Market98
Property Features for 915 22nd St
General Information
- Standard status
- Active
- Size
- 11,900 SF
- Property subtype
- Multifamily
Listing agency
Matthews
Listed by
David Ferber · License #1974915
Source
Crexi
Added: Apr 16 Updated: Jul 21 at 4:34PM Checked: Jul 21 at 4:34PM
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 is a 16-unit multifamily apartment building for sale in Union City, NJ. The transaction is marketed with a stated 7% cap rate and a value-add focus.
The property is located at 915 22nd St, Union City, NJ 07087, and is described as being near Manhattan transit, supporting tenant access to regional commute options.
The property is located at 915 22nd St, Union City, NJ 07087, and is described as being near Manhattan transit, supporting tenant access to regional commute options.
Key Highlights
- 16‑unit multifamily apartment building in Union City
- Stated 7% cap rate potential (per listing remarks)
- Value‑add opportunity mentioned (per listing remarks)
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 | $357.0k | $30.00 |
| − Vacancy | −$24.3k | −$2.04 |
| EGI | $332.7k | $27.96 |
| − OpEx | −$149.7k | −$12.58 |
| NOI | $183.0k | $15.38 |
11,900 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.61M
$2.29M – $3.05M
NOI $182,998 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.31M
$3.77M – $5.03M
NOI $301,638 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - For-sale 16-unit apartment building positioned near Manhattan transit with stated 7% cap rate potential.
Where is this apartment building located?
The property is located at 915 22nd St Union City, NJ.
What is the asking price?
The asking price for this property is $2,327,000.
What are key features of this property?
This property features: 16‑unit multifamily apartment building in Union City; Stated 7% cap rate potential (per listing remarks); Value‑add opportunity mentioned (per listing remarks)
