611 12Th St Union City, NJ 07087
- Commercial real estate
Current Use by Public Records
- E.L CONSTRUCTION INC. / Building Firm
- MAGIC TEAM Edgar/ Blanca owners / House Cleaning Service / Commercial Cleaning Service
Property Details for 611 12Th St
- Property type
- Commercial real estate
Description
This exceptional 15-unit apartment building presents a compelling value-add investment opportunity in the vibrant Union City, New Jersey market. Located at 611 12th St, Union City, NJ 07087, this four-story building boasts a total of 15 units, comprised of 14 two-bedroom apartments and one one-bedroom apartment. The property underwent a complete gut renovation in 1999 and remains well-maintained, offering immediate cash flow potential. The building features high ceilings throughout. A significant advantage is that tenants are responsible for all utilities, including gas, electric, water, and sewer, minimizing operational expenses for the owner. The current gross rent roll exceeds $220,000 annually. This property is situated in a prime location within Hudson County, offering excellent access to transportation and amenities. The asking price for this multifamily investment is $2,275,000, translating to an attractive price per unit of $151,666.67. This presents a rare chance to acquire a well-positioned, income-generating asset with significant upside potential in a thriving New Jersey market. The property's strong tenant base and low vacancy rates contribute to its financial stability and attractiveness to investors seeking a solid return on investment.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Union City
- County
- Hudson
- State
- New Jersey
- Longitude
- -74.03946605536
- Latitude
- 40.760187718656
