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Westley Page

Brown Harris Stevens NJ

Property Details

Property Type Multi-Family
Units 8
Lot Size 0.2 Acre
Cap Rate % 4.8
Rental Income / YR 245760
NOI / YR 182408
Taxes / YR 53432
Additional Rent Contact for pricing
Parking Spaces Avail. 12
Parking Ratio 1.35 / 1,000 SF
Property Tenancy Multi-Tenant
Year Built 2018
Date Updated Oct 22, 2024

Incredible investment opportunity for a truly turnkey property in a prime location. Built in 2018, this property consists of two oversized buildings featuring eight spacious two-bedroom, two-bathroom units, generating an impressive $182,408 in net annual income with a CAP rate of approximately 5%. Each unit has separate utilities, with tenants responsible for their own water, gas, electricity, and sewer expenses.

The total building spans 16,572 square feet, with individual apartment sizes ranging from 1,076 to 1,235 square feet, situated on a combined lot measuring 50 x 178. This property offers 12 dedicated parking spaces, ensuring each unit has its own assigned spot, while two units also feature private patios. Moreover, any unused parking spots present an excellent opportunity for additional rental income.

These modern apartments boast individual washers and dryers, red oak hardwood flooring, central heating and air conditioning, granite countertops, stainless steel appliances and mosaic tile in the kitchens and classic subway tile in the bathrooms. The building is equipped with a central reporting fire alarm, security systems, and a whole building sprinkler system.

Conveniently located near major highways (Route 3, 495, & 9) and public transportation options, including bus service to Port Authority that takes less than 30 minutes, this property is also close to parks, restaurants, shopping, and grocery stores. The buildings at 610 12th Street and 612 12th Street can be sold separately.

Union City is an outstanding investment area, and finding a property in such exceptional condition is a rare opportunity.

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Attachments

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Getting around

94/100
Walk Score ®
71/100
Transit Score ®
54/100
Bike Score ®

Powered by Walk Score ®

City Union City, NJ
Zip Code 07087
Market New Jersey

Points of Interest

Holiday Taxi

0.63 miles
PATH Elevator

1.78 miles
Hoboken

1.79 miles
Hoboken Terminal

1.87 miles
Port Imperial

1.87 miles
Secaucus Junction

1.94 miles
Grove Street PATH Trains

2.80 miles
Grove Street

2.83 miles
Grove Street (PATH)

2.83 miles
Exchange Place

3.01 miles

Exxon

0.08 miles
Delta

0.23 miles
Blue Star

0.30 miles
BP

0.57 miles
7 Even

0.61 miles
Speedway

0.64 miles
Sunoco

0.68 miles
Tesla Supercharger

0.95 miles

Hudson Korean Presbyterian Church Parking Lot

0.39 miles
Jose Marti Field and Recreational Grounds Parking Lot

0.45 miles
Leber Funeral Home Parking

0.54 miles
Washington Park Parking Lot

0.56 miles
Union City Post Office

0.89 miles
Little Man Parking

0.95 miles
Port Authority of New York and New Jersey

0.96 miles
Weehawken Public Library

1.03 miles
Walgreens

1.05 miles
Dunkin Donuts Parking lot

1.15 miles

Howard Johnson by Wyndham North Bergen

0.54 miles
Quality Suites Nyc Gateway

0.55 miles
Sheraton Lincoln Harbor

0.78 miles
Mason Civic League

0.87 miles
Days Inn

0.89 miles
Days Hotel

0.91 miles
Best Western

0.93 miles
Meadowlands View

0.97 miles
Super 8 North Bergen

1.00 miles
Fountain Motel

1.02 miles

Universal Market

0.16 miles
Lasorpresa

0.21 miles
Alexa Mini Market

0.30 miles
Fine Fair

0.39 miles
Food Bazaar

0.41 miles
Trader Joe's

0.63 miles
C-Town

0.65 miles
ShopRite

0.73 miles
Jaritza II Supermarket Grocery

0.77 miles
The Shops at Lincoln Harbor

0.82 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

610-612 12th Street