1213 Bergenline Ave

6 Unit Apartment Building $885,000 ($147,500/Unit) 7.23% Cap Rate Union City, NJ 07087

INVESTMENT HIGHLIGHTS

  • Free Standing Brick 6 Family Building with a detached garage, on a corner lot and additional parking spot for extra income.
  • Location is KEY... near Lincoln Tunnel, Hoboken border, Hudson-Burgen Light Rail, Parks and Restaurants.
  • All units have a box layout with Hardwood floors, tiled baths, wood trim moldings and baseboard heat that tenants pay for.

EXECUTIVE SUMMARY

OPPORTUNITY To purchase a 6 family with garage in the heart of Union City. Rent roll WAY BELOW MARKET VALUE at a current $7303.61 a month with all tenants being on month to months but have been there for years. The possibilities are endless here with either purchasing and holding or raising rent value and creating more value on your money. With a net income of $63,222 per yr at asking is a 7%cap but with Location growing value by the day and possibilities are endless here for excellent financial returns!
Rent Roll -Gross $87,643 Expenses: Insurance $5510, Taxes $13611, Water/sewer Avg $2300/yr, Maint. $3000
email Russ101nj@gmail.com with any questioins or LOI Russell Milman 718-915-7050

PROPERTY FACTS

Price $885,000
Price Per Unit $147,500
Sale Type Investment
Cap Rate 7.23%
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.06 AC
Building Size 4,254 SF
No. Stories 3
Year Built 1910
Parking Ratio 0.24/1,000 SF
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (72)

ZONING

Zoning Code R, Union City.
  • Listing ID: 25271448

  • Date on Market: 3/17/2022

  • Last Updated:

  • Address: 1213 Bergenline Ave, Union City, NJ 07087