615 Summit Ave - Apartments FOR SALE


Union City, NJ 07087
$1,190,000 USD
201-935-6200
615 Summit Ave, Union City, NJ for Sale
$1,190,000 USD
Apartments - FOR SALE
1/46
null | 5.98% Cap Rate

615 Summit Ave
Union City, NJ 07087


HIGHLIGHTS

  • Excellent froot traffic

OVERVIEW

Location! Location! Location! Ideally situated on Summit Avenue in Union City, this mixed-use investment property enjoys a highly visible location in one of Hudson County's most established commercial and residential corridors. The property benefits from excellent access to NJ Transit buses with convenient service to Midtown Manhattan and is just minutes from the Lincoln Tunnel, making it highly desirable for commuters. Surrounded by local businesses, restaurants, shopping, schools, parks, and everyday conveniences, the area supports strong demand for both residential and commercial space. Union City's high population density, walkability, and proximity to New York City continue to make it an attractive market for investors seeking stable rental demand and long-term appreciation. The property features two 2-bedroom apartments, two 1-bedroom apartments, and one commercial storefront, generating approximately $109,000 in annual gross income, with operating expenses of approximately $38,000 and a Net Operating Income (NOI) of approximately $71,000. This is a rare opportunity to acquire a well-located, income-producing asset in one of Northern New Jersey's most sought-after commuter markets.

FOR SALE DETAILS

PRICE

$1,190,000 USD

PRICE/SF

$272 USD /SF

# OF UNITS

5

PRICE/UNIT

$238,000

CAP RATE

5.98%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

C

APN/PARCEL ID

10-00031-0000-00020

ASK ABOUT THIS PROPERTY

Jennifer Darby MetzgerJustin CommercialMore Info
201-935-6200

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

Jennifer Darby MetzgerJustin CommercialMore Info
201-935-6200

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