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3301 Pleasant Ave Union City, NJ 07087

Sponsored
For Sale
$1,484,874

Nine-unit condo building, high ROI

Description

Added:
Dec 11, 2024
Days on Market:
392
This exceptional investment opportunity presents a portfolio of three low-rise brick buildings situated at the intersection of Pleasant Avenue and 33rd Street in Union City, New Jersey. Comprising a total of nine units, each a two-bedroom, one-bathroom condominium, this property boasts 100% occupancy and a strong NOI of $98,669, yielding a 6.64% cap rate. Built in 1963, the buildings are well-maintained and offer four parking spaces. The property benefits from a prime location, offering convenient access to Weehawken and the Lincoln Tunnel, placing residents within a 10-minute commute of Manhattan's Hudson Yards, Garment District, and Madison Square Garden. Tenants are responsible for electric heat and individual gas stove usage, while the owner covers hot water and sewer costs. Each condominium is individually taxed. This rent-stabilized portfolio presents a compelling opportunity for passive income generation and long-term investment growth. The asking price is $1,484,874, or $164,986 per unit. The property is zoned RM. This is a rare opportunity to acquire a well-performing multifamily portfolio in a highly desirable location. The buildings are individually addressed as 3301 Pleasant Ave, 3303 Pleasant Ave, and 106 33rd St, all in Union City, NJ 07087.

Property Features for 3301 Pleasant Ave

General Information

Property type
Multifamily properties
Class
C

Building Details

Year Built
1963
Buildings
3
Stories
2
Units
9

HighLights

  • Three well‑maintained, low‑rise brick buildings in Union City, NJ, totaling nine 2‑bedroom/1‑bathroom condos.
  • 100% occupancy with a strong NOI of $98,669 and a 6.64% cap rate.
  • Prime location at Pleasant Ave & 33rd St, offering easy access to the Lincoln Tunnel and Weehawken, with a 10‑minute commute to Manhattan.
  • Asking price: $1,484,874 ($164,986 per unit); RM zoning.
  • Four parking spaces included.
Property Profile 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
-74.024737539109
Latitude
40.768436426383

FAQs

What type of property is this?
Multifamily property - Nine-unit condo building, high ROI
Where is this multifamily property located?
The property is located at 3301 Pleasant Ave Union City, NJ.
What is the asking price?
The asking price for this property is $1,484,874.
What are key features of this property?
This property features: Three well-maintained, low-rise brick buildings in Union City, NJ, totaling nine 2-bedroom/1-bathroom condos.; 100% occupancy with a strong NOI of $98,669 and a 6.64% cap rate.; Prime location at Pleasant Ave & 33rd St, offering easy access to the Lincoln Tunnel and Weehawken, with a 10-minute commute to Manhattan.
More about this property
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