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604 21st St 9 Unit Apartment Building $1,599,000 ($177,667/Unit) Union City, NJ 07087
INVESTMENT HIGHLIGHTS
- Corner Property
- Heavy Vehicle Traffic
- Heavy Foot Traffic
EXECUTIVE SUMMARY
9-Unit Brick Corner Lot. This is a multifamily investment opportunity in Union City. This well-maintained corner brick building consists of nine residential units—eight 3-bedrooms and one 2-bedroom. Each unit is separately metered, with tenants paying their own gas, electric, heat, and hot water. Current rents are below current market rate strong value add potential. Additional income possibility through basement storage.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$144,628
|
$17.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$144,628
|
$17.02
|
| Taxes |
$25,700
|
$3.02
|
| Operating Expenses |
$23,000
|
$2.71
|
| Total Expenses |
$48,700
|
$5.73
|
| Net Operating Income |
$95,928
|
$11.29
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $144,628 |
| Annual Per SF | $17.02 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $144,628 |
| Annual Per SF | $17.02 |
| Taxes | |
|---|---|
| Annual | $25,700 |
| Annual Per SF | $3.02 |
| Operating Expenses | |
|---|---|
| Annual | $23,000 |
| Annual Per SF | $2.71 |
| Total Expenses | |
|---|---|
| Annual | $48,700 |
| Annual Per SF | $5.73 |
| Net Operating Income | |
|---|---|
| Annual | $95,928 |
| Annual Per SF | $11.29 |
PROPERTY FACTS Under Contract
| Price | $1,599,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $177,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| No. Units | 9 | Building Size | 8,500 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1918 |
| Zoning | R | ||
| Price | $1,599,000 |
| Price Per Unit | $177,667 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 8,500 SF |
| No. Stories | 4 |
| Year Built | 1918 |
| Zoning | R |
AMENITIES
UNIT AMENITIES
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 9 | - | - |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (85)
PROPERTY TAXES
| Parcel Number | 10-00115-0000-00001 | Total Assessment | $1,499,600 (2025) |
| Land Assessment | $540,000 (2025) | Annual Taxes | $25,700 ($3.02/SF) |
| Improvements Assessment | $959,600 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
10-00115-0000-00001
Land Assessment
$540,000 (2025)
Improvements Assessment
$959,600 (2025)
Total Assessment
$1,499,600 (2025)
Annual Taxes
$25,700 ($3.02/SF)
Tax Year
2024
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Presented by
Serhant New Jersey LLC
604 21st St
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