Discover a rare investment opportunity in Union City's most vibrant area and a great location! TWO magnificent, oversized multi-family property boasts newer construction (2018) and is fully rented with a remarkable NOI of $$166, 931 with a proforma of 5.95% Cap Rate by 2027. The combined lot size of both buildings is 50 x 178, with a total building floor area of 16, 572 square feet. The larger than usual property boasts eight (8) modern and spacious units ranging from 1, 076 square feet – 1, 235 square feet. Each unit features 2 bedrooms, 2 full bathrooms, a washer and dryer, beautiful hardwood floors, central air and heat, stainless steel appliances, and granite countertops. The property also includes twelve (12) indoor garage car parking spaces, two private backyards, and is fully sprinklered with a central reporting fire alarm and security systems, providing a safe and convenient living experience. Each unit has separate utilities, and tenants pay all utility bills, including water, gas, electricity, and sewer, which offers a fantastic opportunity for investors to maximize profits. The property is currently generating a great return on investment, and with its desirable location and high-end features, it has the potential to appreciate over time, providing excellent value to savvy investors. Located in a prime area, this property offers an easy commute to NYC and typically less than 30 minutes. The property is also conveniently situated near major highways (Route 3, 495, & 9) and other public transportation options, making it an excellent location for renters who need to travel frequently. Within walking distance from the building, you'll find schools, grocery stores, restaurants, parks, shopping, businesses, and retail options, which add to the convenience of living in this area. The property can be sold separately, 610 12th Street or 612 12th Street, providing investors with an opportunity to own one or two high-performing properties in a flourishing area. Don't miss out on this fantastic investment opportunity that offers luxury living, convenience, and profitability. Schedule a viewing today and discover why this property is a must-have in your investment portfolio!
Based on information submitted to NJ_HCMLS_RETS as of May 30, 2023 1:18 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."