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2701 Summit Ave 16 Unit Apartment Building $2,526,000 ($157,875/Unit) 7.25% Cap Rate Union City, NJ 07087
Investment Highlights
- Value-Add Opportunity
- Less than 20-minute commute to Midtown Manhattan
- Prime Location in Union City
- Strong unit mix of one- and two-bedroom apartments
- Landlord pays for heat, hot water, water/sewer & common area electric
- $158K Price Per Unit
Executive Summary
Patrick Forde
License # 2330333, 122887 (NJ)
Matthews Real Estate Investment Services, LLC
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
(866) 889-0550
License # 2330333, 122887 (NJ)
Matthews Real Estate Investment Services, LLC
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666
(866) 889-0550
Property Facts
| Price | $2,526,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $157,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 7.25% | Building Size | 9,360 SF |
| No. Units | 16 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | ||
| Zoning | R | ||
| Price | $2,526,000 |
| Price Per Unit | $157,875 |
| Sale Type | Investment |
| Cap Rate | 7.25% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 9,360 SF |
| No. Stories | 4 |
| Year Built | 1950 |
| Zoning | R |
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Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 10-00156-0000-00015 | Improvements Assessment | $840,000 |
| Land Assessment | $960,000 | Total Assessment | $1,800,000 |
Property Taxes
Parcel Number
10-00156-0000-00015
Land Assessment
$960,000
Improvements Assessment
$840,000
Total Assessment
$1,800,000
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2701 Summit Ave
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