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208 38th St 6 Unit Apartment Building $850,000 ($141,667/Unit) 6.20% Cap Rate Union City, NJ 07087
Investment Highlights
- multi units
- great location
- can be converted to condos
- lots of potential for future capitalization
Executive Summary
This fantastic investment with lots of potential has just come to market! Buy these 6 units, in the heart of Union City, walking distance to Bergenline Ave, shops, cafes, banks, schools, houses of worship, local and NYC transportation, a stone's throw to Weehawken, Hoboken, Edgewater fine dining and shopping. Each apartment is approximately 650 soft of living space, 4 rooms each consisting of 2 bedrooms, living room, kitchen, 1 bathroom, totaling 3,900 sqft, large full unfinished basement with egress to the large backyard, separate gas, and electrical meters, security system. Landlord pay heat, water, and sewer. One unit will be delivered vacant and 5 fully rented. Sold As Is Where Is. All actual rents are registered with The rent leveling board. The landlord pays for heat, water, sewer and taxes. Tenants pay gas and electric.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$86,608
|
$28.56
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$86,608
|
$28.56
|
| Taxes |
$12,747
|
$4.20
|
| Operating Expenses |
$21,232
|
$7.00
|
| Total Expenses |
$33,979
|
$11.20
|
| Net Operating Income |
$52,629
|
$17.35
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $86,608 |
| Annual Per SF | $28.56 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $86,608 |
| Annual Per SF | $28.56 |
| Taxes | |
|---|---|
| Annual | $12,747 |
| Annual Per SF | $4.20 |
| Operating Expenses | |
|---|---|
| Annual | $21,232 |
| Annual Per SF | $7.00 |
| Total Expenses | |
|---|---|
| Annual | $33,979 |
| Annual Per SF | $11.20 |
| Net Operating Income | |
|---|---|
| Annual | $52,629 |
| Annual Per SF | $17.35 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,202 | 650 |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 10-00227-0000-00006 | Total Assessment | $843,400 |
| Land Assessment | $360,000 | Annual Taxes | $12,747 ($4.20/SF) |
| Improvements Assessment | $483,400 | Tax Year | 2025 |
Property Taxes
Parcel Number
10-00227-0000-00006
Land Assessment
$360,000
Improvements Assessment
$483,400
Total Assessment
$843,400
Annual Taxes
$12,747 ($4.20/SF)
Tax Year
2025
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208 38th St
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