4535 Broadway Union City, NJ 07087

This exceptional 7-unit multifamily investment property is located at 4535 Broadway, Union City, NJ 07087. The building, constructed in 1920 and renovated in 2010, offers 4,900 square feet of net rentable space across three stories. The property sits on a 3,000 square foot lot and is zoned for residential use. Currently generating a net operating income (NOI) of $64,060, representing a 5.13% cap rate, this Class B building presents a compelling value-add opportunity with a pro-forma cap rate of 5.58% and a pro-forma NOI of $64,060. The asking price is $1,149,000, translating to $234.49 per square foot and $164,142.86 per unit. The land value alone is $489 per square foot. The property's strategic location offers convenient access to shopping, dining, and public transportation, making it an attractive investment for both new and experienced investors seeking stable returns and potential appreciation. Annual rental increases of 3% per year are projected. This fee-simple ownership opportunity is ideal for those seeking to add value and build a strong portfolio.