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904 Bergenline Ave 6 Unit Apartment Building $1,059,000 ($176,500/Unit) 8.33% Cap Rate Union City, NJ 07087
INVESTMENT HIGHLIGHTS
- Easy access to transportation
- Fully Rented
- High Population Area
- Value Add Opportunity
- High Registered Rents
- 2 bonus units in basement
EXECUTIVE SUMMARY
Presenting an outstanding investment opportunity in the heart of Union City, 904 Bergenline Ave. is a meticulously maintained 6 unit building offering both immediate appeal and long-term value. Ideally situated near the Lincoln Tunnel and just steps from direct NYC bus routes, this property is perfectly positioned for commuters seeking convenient access to Manhattan. Residents will enjoy being within walking distance of Bergenline Avenue’s vibrant shops, acclaimed restaurants, and a variety of schools, making this location highly desirable for tenants. Each apartment is spacious, providing modern comfort and strong tenant retention. The building itself provides all separate utilities including, gas electric, heat and hot water, solidly built, and well cared for, offering peace of mind to investors. Whether you’re looking for a 1031 exchange or a strategic addition to your portfolio, this property stands out as a turnkey asset in a thriving rental market. The gem of this building is the two bonus apartments on the garden level, providing additional income and making this a home run investment opportunity Union City is renowned for its dynamic cultural heritage and welcoming community atmosphere. The town boasts several unique and beautiful parks, many of which offer breathtaking views of the New York City skyline. With its rich history, diverse amenities, and unbeatable proximity to NYC, Union City continues to attract renters and investors alike. 904 Bergenline Ave. is your chance to own a prime investment property centrally located within everything this vibrant community has to offer.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$108,216
|
$19.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$108,216
|
$19.60
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$20,000
|
$3.62
|
| Net Operating Income |
$88,216
|
$15.98
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $108,216 |
| Annual Per SF | $19.60 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $108,216 |
| Annual Per SF | $19.60 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $20,000 |
| Annual Per SF | $3.62 |
| Net Operating Income | |
|---|---|
| Annual | $88,216 |
| Annual Per SF | $15.98 |
PROPERTY FACTS
| Price | $1,059,000 | Apartment Style | Low-Rise |
| Price Per Unit | $176,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 8.33% | Building Size | 5,520 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | N/Av, Union City | ||
| Price | $1,059,000 |
| Price Per Unit | $176,500 |
| Sale Type | Investment |
| Cap Rate | 8.33% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,520 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1910 |
| Zoning | N/Av, Union City |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Ceiling Fans
- Kitchen
- Ice Maker
- Refrigerator
- Wi-Fi
- Dining Room
- Freezer
SITE AMENITIES
- Controlled Access
- Security System
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (71)
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904 Bergenline Ave
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