715 22nd St
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715 22nd St
8 Unit Apartment Building $1,300,000 ($162,500/Unit) 6.50% Cap Rate Union City, NJ 07087
INVESTMENT HIGHLIGHTS
- Great location minutes from Lincoln Tunnel.
- Densely populated area.
- Accessibility to public transportation.
EXECUTIVE SUMMARY
Diverse Unit Mix: A combination of 1, 2, and 3-bedroom units catering to a broad tenant base.
Well-Maintained: The building features reliable utilities and professionally managed services, reducing future maintenance costs.
Location: Positioned in a high-demand rental market, ensuring tenant stability and potential rent growth.
This property stands out as a prime asset for investors looking to expand their portfolio with a stable, income-producing multifamily property. With its strong financials and strategic location, this building is poised for both immediate and long-term profitability.
Well-Maintained: The building features reliable utilities and professionally managed services, reducing future maintenance costs.
Location: Positioned in a high-demand rental market, ensuring tenant stability and potential rent growth.
This property stands out as a prime asset for investors looking to expand their portfolio with a stable, income-producing multifamily property. With its strong financials and strategic location, this building is poised for both immediate and long-term profitability.
PROPERTY FACTS
| Price | $1,300,000 | Apartment Style | Low-Rise |
| Price Per Unit | $162,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.50% | Building Size | 3,915 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1913 |
| Price | $1,300,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 3,915 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1913 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | - | - |
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Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (78)
PROPERTY TAXES
| Parcel Number | 10-00116-0000-00011 | Improvements Assessment | $715,700 |
| Land Assessment | $480,000 | Total Assessment | $1,195,700 |
PROPERTY TAXES
Parcel Number
10-00116-0000-00011
Land Assessment
$480,000
Improvements Assessment
$715,700
Total Assessment
$1,195,700
ZONING
| Zoning Code | R (4C- Apartment 3B-8U-H) |
| R (4C- Apartment 3B-8U-H) |
CONTACTS
-
Eduardo Lopez -
Tarang Ramani -
Lee & Associates Commercial Real Estate Services
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715 22nd St
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