$2,550,000
$3,100,000
17.7%For more information regarding the value of a property, please contact us for a free consultation.
18 Baths
SOLD DATE : 08/27/2024
Key Details
Sold Price $2,550,000
Property Type Commercial
Sub Type Investment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 240004239
Sold Date 08/27/24
Full Baths 18
Annual Tax Amount $47,985
Lot Dimensions 6952
Property Description
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.
Location
State NJ
County Hudson
Area Union City
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Bought with REMAX VILLA REALTORS
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Broker | Lic# 9798051