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1701 New York Ave 8 Unit Apartment Building $1,200,000 ($150,000/Unit) 6.29% Cap Rate Union City, NJ 07087
EXECUTIVE SUMMARY
Rare opportunity to invest in this gorgeous 8-unit apartment dwelling with 1 parking space, solid brick 4 levels plus full, unfinished basement will make a sound investment. There are a total of 8 apartments, 6 consisting of living room, kitchen, 2 bedrooms, 1 full bath; 7th unit = living room, kitchen, 1 bedroom, 1 full bath; 8th unit= living room, kitchen/dining area, 3 bedrooms,Central air, 1 bath and 1 parking space in the rear. Basement full-unfinished with washer and dryer for apt 1; separate water heaters, gas and electric. All information is deemed reliable but not guaranteed. Buyers should do their own due diligence to verify all information.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$198,000
|
$29.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$198,000
|
$29.27
|
| Taxes |
$22,525
|
$3.33
|
| Operating Expenses |
$43,996
|
$6.50
|
| Total Expenses |
$66,521
|
$9.83
|
| Net Operating Income |
$131,479
|
$19.44
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $198,000 |
| Annual Per SF | $29.27 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $198,000 |
| Annual Per SF | $29.27 |
| Taxes | |
|---|---|
| Annual | $22,525 |
| Annual Per SF | $3.33 |
| Operating Expenses | |
|---|---|
| Annual | $43,996 |
| Annual Per SF | $6.50 |
| Total Expenses | |
|---|---|
| Annual | $66,521 |
| Annual Per SF | $9.83 |
| Net Operating Income | |
|---|---|
| Annual | $131,479 |
| Annual Per SF | $19.44 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Eat-in Kitchen
- Kitchen
- Range
- Basement
- Intercom
SITE AMENITIES
- Gas Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,044 | 350 |
| 3+1 | 2 | $3,000 | 1,250 |
| 3+1 | 7 | $1,343 | 750 |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (85)
PROPERTY TAXES
| Parcel Number | 10-00090-0000-00001 | Total Assessment | $1,218,900 (2025) |
| Land Assessment | $480,000 (2025) | Annual Taxes | $22,525 ($3.33/SF) |
| Improvements Assessment | $738,900 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
10-00090-0000-00001
Land Assessment
$480,000 (2025)
Improvements Assessment
$738,900 (2025)
Total Assessment
$1,218,900 (2025)
Annual Taxes
$22,525 ($3.33/SF)
Tax Year
2024
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