603 11Th St Union City, NJ 07087
- Commercial real estate
- 3,080 SF
Current Use by Public Records
- Commercial real estate
Property Details for 603 11Th St
- Property size
- 3,080 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a well-maintained, two-story brick apartment building located at 603 11th Street in Union City, New Jersey. The property boasts 3,080 square feet and sits on a sizable 2,501 square foot lot (25' x 100.04'), offering significant potential for future development. Currently operating at 100% occupancy, the building comprises four units: three one-bedroom apartments and one two-bedroom apartment, all benefiting from low, separately metered utilities. The property generates a substantial net operating income (NOI) of $41,708, resulting in a compelling 4.91% capitalization rate. The asking price is $850,000, translating to $212,500 per unit and $275.97 per square foot. The building's location offers convenient access to NYC transportation. The property presents a strong value-add opportunity, with potential for further renovations or even a condo conversion, given the large lot size and existing structure. A large private backyard is also included. Financial details are available upon request. Schedule a showing today to explore this promising investment.
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
- -74.0397227
- Latitude
- 40.7593298
