Investment Overview

Marcus & Millichap is pleased to present the compelling Class B multifamily investment opportunity located at 1306 New York Avenue in Union City, New Jersey. Built in 2003 and positioned directly along the city’s border with Hoboken, the property benefits from modern construction standards and features a fully sprinklered building. This important amenity enhances safety, insurability, and long-term operational efficiency. Likewise, the asset includes a gated parking lot with 10 on-site parking spaces, a rare and highly desirable amenity feature for tenants living in a dense, transit-oriented urban area. The property’s location on the Union City–Hoboken border ideally positions the asset to capture demand driven by renters pursuing comparatively lower housing costs while maintaining proximity to dining, employment, and transit options. The property also offers approximately 30 percent upside for investors through light interior renovations and subsequent lease-up of under-market rents. All units feature separate utilities, allowing for efficient expense pass-through and improved net operating income. With its combination of modern construction, rare parking lot, and meaningful rent growth potential, this asset represents an attractive opportunity for both seasoned and first-time multifamily investors.