Log In/Sign Up
Your email has been sent.
1701 Central Ave 8 Unit Apartment Building $1,599,000 ($199,875/Unit) 6.71% Cap Rate Union City, NJ 07087
Executive Summary
8-Unit Brick Building – Prime Union City – 6.71% Cap Rate + Garage Income Potential
Legal 8-family, freestanding brick building located directly on Central Avenue in the heart of Union City. The property sits on a 27 x 84 lot with full lot coverage and a brick and concrete façade. Fully compliant with all city codes and very well maintained.
The building consists of (3) three-bedroom units and (5) one-bedroom units. All apartments have separate heat and electric with individual meters. Low tenant turnover, long-term renters, and low operating costs make for reliable cash flow.
A double garage in the rear offers value-add potential for additional rental income.
Current income supports a true 6.71% cap rate, with room for future upside. Located in a high-demand rental area with strong fundamentals.
Financials available upon request. Serious inquiries only.
Legal 8-family, freestanding brick building located directly on Central Avenue in the heart of Union City. The property sits on a 27 x 84 lot with full lot coverage and a brick and concrete façade. Fully compliant with all city codes and very well maintained.
The building consists of (3) three-bedroom units and (5) one-bedroom units. All apartments have separate heat and electric with individual meters. Low tenant turnover, long-term renters, and low operating costs make for reliable cash flow.
A double garage in the rear offers value-add potential for additional rental income.
Current income supports a true 6.71% cap rate, with room for future upside. Located in a high-demand rental area with strong fundamentals.
Financials available upon request. Serious inquiries only.
Property Facts
| Price | $1,599,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $199,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 6.71% | Building Size | 7,811 SF |
| Gross Rent Multiplier | 14.94 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1878/1995 |
| Property Subtype | Apartment | ||
| Zoning | R1 - Residential | ||
| Price | $1,599,000 |
| Price Per Unit | $199,875 |
| Sale Type | Investment |
| Cap Rate | 6.71% |
| Gross Rent Multiplier | 14.94 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 7,811 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1878/1995 |
| Zoning | R1 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 1+1 | 4 | - | - |
| Studios | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (72)
Property Taxes
| Parcel Number | 10-00093-0000-00036 | Improvements Assessment | $775,500 |
| Land Assessment | $480,000 | Total Assessment | $1,255,500 |
Property Taxes
Parcel Number
10-00093-0000-00036
Land Assessment
$480,000
Improvements Assessment
$775,500
Total Assessment
$1,255,500
1 of 45
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1701 Central Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.