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    3501 Hudson Ave Union City, NJ 07087

    For Sale
    $1,792,000

    13-Unit Building w/ Commercial Space

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a 13-unit multifamily building in Union City, NJ, situated at 3501 Hudson Avenue. The property, a four-story low-rise structure built in 1930, comprises two buildings: a main residential building and a separate commercial space. The residential portion boasts nine two-bedroom, one-bathroom apartments and three three-bedroom, one-bathroom apartments, along with one additional one-bedroom unit. The detached commercial space offers further income potential. The property features a 6.5% cap rate with a net operating income (NOI) of $116,494, and an asking price of $1,792,000, resulting in a price per unit of $137,846.15. Tenants are responsible for their own electricity and cooking gas (individually metered in the basement), while the owner covers heat and hot water (via a large furnace and two water heaters in the basement). This well-located property, at the intersection of Hudson Avenue and 35th Street, presents a strong return on investment in a desirable New Jersey market. The property is classified as Class C.

    Property Features for 3501 Hudson Ave

    General Information

    Property type
    Multifamily properties
    Class
    C

    Building Details

    Year Built
    1930
    Buildings
    2
    Stories
    4
    Units
    13

    HighLights

    • 13‑unit multifamily building in Union City, NJ, at 3501 Hudson Avenue.
    • Four‑story, 1930s construction, consisting of a main residential building and a separate commercial space.
    • Apartment mix: nine 2BR/1BA, three 3BR/1BA, and one 1BR unit.
    • 6.5% cap rate, $116,494 NOI, $1,792,000 asking price ($137,846.15 per unit).
    • Tenants pay electricity and cooking gas; owner pays heat and hot water.
    • Class C property located at Hudson Avenue and 35th Street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Union City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.025113460488
    Latitude
    40.772100539919

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    FAQs

    What type of property is this?
    Multifamily property - 13-Unit Building w/ Commercial Space
    Where is this multifamily property located?
    The property is located at 3501 Hudson Ave Union City, NJ.
    What is the asking price?
    The asking price for this property is $1,792,000.
    What are key features of this property?
    This property features: 13-unit multifamily building in Union City, NJ, at 3501 Hudson Avenue.; Four-story, 1930s construction, consisting of a main residential building and a separate commercial space.; Apartment mix: nine 2BR/1BA, three 3BR/1BA, and one 1BR unit.
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    Union City, NJ 07087
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3501 Hudson Ave Union City, NJ 07087
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