1701 Central Ave - Apartments FOR SALE


Union City, NJ 07087
$1,599,000 USD
917-903-4936
1701 Central Ave, Union City, NJ for Sale
$1,599,000 USD
Apartments - FOR SALE
1/22
null | 6.71% Cap Rate

1701 Central Ave
Union City, NJ 07087


OVERVIEW

8-Unit Brick Building – Prime Union City – 6.71% Cap Rate + Garage Income Potential Legal 8-family, freestanding brick building located directly on Central Avenue in the heart of Union City. The property sits on a 27 x 84 lot with full lot coverage and a brick and concrete façade. Fully compliant with all city codes and very well maintained. The building consists of (3) three-bedroom units and (5) one-bedroom units. All apartments have separate heat and electric with individual meters. Low tenant turnover, long-term renters, and low operating costs make for reliable cash flow. A double garage in the rear offers value-add potential for additional rental income. Current income supports a true 6.71% cap rate, with room for future upside. Located in a high-demand rental area with strong fundamentals. Financials available upon request. Serious inquiries only.

FOR SALE DETAILS

PRICE

$1,599,000 USD

PRICE/SF

$205 USD /SF

# OF UNITS

8

PRICE/UNIT

$199,875

CAP RATE

6.71%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1878

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

R1

APN/PARCEL ID

10-00093-0000-00036

ASK ABOUT THIS PROPERTY

Lea GovernaleColdwell BankerMore Info
917-903-4936

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Lea GovernaleColdwell BankerMore Info
917-903-4936

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.