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Mixed Used Building 8 Apt. 2 stores for sale 814-816 Summit Ave 8 Unit Apartment Building $1,698,000 ($212,250/Unit) 6.93% Cap Rate Union City, NJ 07087
INVESTMENT HIGHLIGHTS
- Heavy daytime vehicular & foot traffic
- Rear municipal parking lot
- Fully occupied
EXECUTIVE SUMMARY
Commercial Mixed-Use. Prime Investment Opportunity in Union City. Eight residential units plus a commercial retail store that can be used as two stores in the future as building is 100% occupied. The retail space has high ceilings and includes a full basement, providing additional storage or functional space. Tenants pay seperate utilities: electric, heat, hot water and cooking gas.. Inquire for full details on income and expenses. Great income with upside potential. Lot size 50x108. Located in a highly desirable area with heavy foot traffic.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$156,000
|
$11.86
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$156,000
|
$11.86
|
| Taxes |
$28,000
|
$2.13
|
| Operating Expenses |
$10,011
|
$0.76
|
| Total Expenses |
$38,011
|
$2.89
|
| Net Operating Income |
$117,989
|
$8.97
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $156,000 |
| Annual Per SF | $11.86 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $156,000 |
| Annual Per SF | $11.86 |
| Taxes | |
|---|---|
| Annual | $28,000 |
| Annual Per SF | $2.13 |
| Operating Expenses | |
|---|---|
| Annual | $10,011 |
| Annual Per SF | $0.76 |
| Total Expenses | |
|---|---|
| Annual | $38,011 |
| Annual Per SF | $2.89 |
| Net Operating Income | |
|---|---|
| Annual | $117,989 |
| Annual Per SF | $8.97 |
PROPERTY FACTS
| Price | $1,698,000 | Apartment Style | Low-Rise |
| Price Per Unit | $212,250 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.93% | Building Size | 13,151 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2011 |
| Property Subtype | Apartment | ||
| Zoning | C, Union City. - Mixed used | ||
| Price | $1,698,000 |
| Price Per Unit | $212,250 |
| Sale Type | Investment |
| Cap Rate | 6.93% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 13,151 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2011 |
| Zoning | C, Union City. - Mixed used |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
1 1
Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 10-00042-0000-00005 | Total Assessment | $1,885,300 (2025) |
| Land Assessment | $480,000 (2025) | Annual Taxes | $28,000 ($2.13/SF) |
| Improvements Assessment | $1,405,300 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
10-00042-0000-00005
Land Assessment
$480,000 (2025)
Improvements Assessment
$1,405,300 (2025)
Total Assessment
$1,885,300 (2025)
Annual Taxes
$28,000 ($2.13/SF)
Tax Year
2023
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Mixed Used Building 8 Apt. 2 stores for sale | 814-816 Summit Ave
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