3501 Hudson Ave Union City, NJ 07087
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 3501 Hudson Ave
- Year built
- 1930
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Union City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.025113460488
- Latitude
- 40.772100539919
