MLS# : 240004239
Prime Investment Opportunity: 18-Unit Multi-Family Complex in Union City Welcome to a lucrative investment opportunity located on 22nd St and Summit in Union City. This impressive multi-family complex consists of two buildings conveniently situated side by side, offering a total of 18 residential units with 5 units being delivered vacant offering an immediate opportunity for value enhancement With a projected gross income of close to $300,000 annually, this property presents a compelling investment proposition. Each unit offers the potential for stable rental income, providing a solid foundation for long-term wealth accumulation. The property boasts an attractive 6%+ Cap Rate, reflecting a favorable return on investment relative to the purchase price. Investors seeking stable cash flow and capital appreciation will find this property aligns with their financial objectives. In summary, this 18-unit multi-family side by side complex in Union City represents an exceptional investment opportunity for investors seeking to expand their real estate portfolio. With its prime location, income potential, value-add opportunities, and promising market dynamics, this property is a rare value add option in today's market.
This listing is a courtesy of EXP REALTY LLC
866-201-6210 office, listing agent ANDREW SANDERSON
Population: | 65,551 |
Total Housing Units: | 22,411 |
Single Family Homes: | 5,756 |
Apartments: | 16,655 |
General Tax Rate (2021): | 7.135% |
Effective Tax Rate (2021): | 2.400% |
Compare To Other Towns |
Average Price* (12mo): | $402,598 |
Apatments Sold* (12mo): | 105 |
Homes : | $399,000 - 1,299,980 | 10 avail |
Condos : | $199,000 - 969,999 | 35 avail |
Co-ops : | $250,000 - 695,000 | 11 avail |
Twnhs : | - | |
2-4 Fam : | $474,900 - 1,500,000 | 19 avail |
5+ Fam : | $799,000 - 1,995,000 | 4 avail |
Land : | $499,000 - 1,100,000 | 6 avail |
Rentals : | $1,900 - 6,000 | 25 avail |
Mixd Use : | $599,999 - 2,100,000 | 7 avail |
Com S : | - | |
Com L : | - | |
Biz : | $150,000 - 199,900 | 5 avail |
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All information deemed reliable but not guaranteed. Last date updated: 05/01/2024 00:05 AM
Source: New Jersey Multiple Listing Service, Inc.
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General Tax Rate is used to determine the amount of real estate tax levied upon a particular property. This rate is used to compute the tax bill.
Effective Tax Rate is used to compare of one district to another district based on the assumption that all districts are at 100% valuation. This rate has been computed by the State of New Jersey Department of the Treasury using County Equalization Average Ratios. This rate is NOT to be used to compute the tax bill.
Data Source: US Census 2010, NJ MLS, State of New Jersey Department of the Treasury
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