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214 44th St 6 Unit Apartment Building $745,000 ($124,167/Unit) 6.75% Cap Rate Union City, NJ 07087
Investment Highlights
- 6.75% Cap Rate
- All Two-Bedroom Units
- Landlord Covers Heat, Hot Water, Water/Sewer and Common Area Electric
- Under 20 Minutes from Manhattan
- Tenants Pay for Cooking Gas & Electric
- The building is approximately a 5-minute walk to Park Ave at 43rd Street bus stop which provides a 14 minute trip to into Midtown Manhattan.
Executive Summary
Broker of Record
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Ste. 440, Teaneck, NJ 07666
(866) 889-0550
Patrick Forde
License # 2330333 (NJ)
Matthews Real Estate Investment Services, Inc
300 Frank W Burr Blvd, Ste. 440, Teaneck, NJ 07666
(866) 889-0550
Property Facts Under Contract
| Price | $745,000 | Apartment Style | Low-Rise |
| Price Per Unit | $124,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 6.75% | Building Size | 3,027 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | ||
| Zoning | R | ||
| Price | $745,000 |
| Price Per Unit | $124,167 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 3,027 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Zoning | R |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 10-00258-0000-00001 | Improvements Assessment | $383,900 |
| Land Assessment | $360,000 | Total Assessment | $743,900 |
Property Taxes
Parcel Number
10-00258-0000-00001
Land Assessment
$360,000
Improvements Assessment
$383,900
Total Assessment
$743,900
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214 44th St
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