4 unit-- 2 Buildings 1 Lot | 2907 Central Ave
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4 unit-- 2 Buildings 1 Lot 2907 Central Ave
4 Unit Apartment Building $1,300,000 ($325,000/Unit) 7.96% Cap Rate Union City, NJ 07087
Executive Summary
APPROVED 4 family NO RENT CONTROL 2 units in front house & 2 in back house, The front house rented for $2800 +$2400=$5200 Taxes 11k Lot size 25 X 140 Parking for cars + loading zone for trucks 4 family LOT! 2 homes on one Lot! 2 family each house, front and rear building. 4 unit legal rental income with Prime Location Near NYC, just moments away from the bustling streets of NYC. Property Highlights: 2 buildings on 1 lot! Front Building 1st floor: Rent-ready 2-bedroom apartment fetching $2,400/month. 2nd floor: Spacious 3-bedroom apartment, ready for occupancy at $2,800/month. Bonus: Additional legal 2nd property in the rear lot, including a commercial space of approximately 1400 sqft. Pending city approvals to change to a 3 bed apartment rear building 2nd fl into a 3-bedroom apartment. With zoning and town approval, transform the property into a legal 4-unit (pending), ensuring long-term profitability. large private driveway for 4 cars and designated loading zone in front of building giving you so much parking access. Lot Size 25X139
Property Facts
| Price | $1,300,000 | Apartment Style | Low Rise |
| Price Per Unit | $325,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 7.96% | Building Size | 5,216 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 0% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1930/2019 |
| Property Subtype | Apartment | Parking Ratio | 0.87/1,000 SF |
| Price | $1,300,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 7.96% |
| Sale Conditions | 1031 Exchange |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 5,216 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built/Renovated | 1930/2019 |
| Parking Ratio | 0.87/1,000 SF |
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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (87)
PROPERTY TAXES
| Parcel Number | 10-00162-0000-00018 | Improvements Assessment | $202,300 |
| Land Assessment | $364,000 | Total Assessment | $566,300 |
PROPERTY TAXES
Parcel Number
10-00162-0000-00018
Land Assessment
$364,000
Improvements Assessment
$202,300
Total Assessment
$566,300
zoning
| Zoning Code | R (With zoning and town approval, transform the property into a legal 4-unit) |
| R (With zoning and town approval, transform the property into a legal 4-unit) |
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4 unit-- 2 Buildings 1 Lot | 2907 Central Ave
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