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615 Summit Ave
Union City, NJ 07087
Multifamily Property For Sale
·
5 Units
Investment Highlights
- Excellent froot traffic
Executive Summary
Location! Location! Location! Ideally situated on Summit Avenue in Union City, this mixed-use investment property enjoys a highly visible location in one of Hudson County's most established commercial and residential corridors. The property benefits from excellent access to NJ Transit buses with convenient service to Midtown Manhattan and is just minutes from the Lincoln Tunnel, making it highly desirable for commuters. Surrounded by local businesses, restaurants, shopping, schools, parks, and everyday conveniences, the area supports strong demand for both residential and commercial space. Union City's high population density, walkability, and proximity to New York City continue to make it an attractive market for investors seeking stable rental demand and long-term appreciation. The property features two 2-bedroom apartments, two 1-bedroom apartments, and one commercial storefront, generating approximately $109,000 in annual gross income, with operating expenses of approximately $38,000 and a Net Operating Income (NOI) of approximately $71,000. This is a rare opportunity to acquire a well-located, income-producing asset in one of Northern New Jersey's most sought-after commuter markets.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 6+4.5 | 5 | - | - |
Property Taxes
| Parcel Number | 10-00031-0000-00020 | Improvements Assessment | $819,600 |
| Land Assessment | $312,000 | Total Assessment | $1,131,600 |
Property Taxes
Parcel Number
10-00031-0000-00020
Land Assessment
$312,000
Improvements Assessment
$819,600
Total Assessment
$1,131,600
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