Mixed-Use

601-603 Bergenline Ave

601 Bergenline Ave, Union City, NJ 07087

Listing Price: Request For Offer

Investment Overview

Marcus & Millichap is pleased to exclusively market the property located at 601603 Bergenline Avenue in Union City, Hudson County, New Jersey for sale. The offering contains two adjacent properties. 601 Bergenline Avenue is a 3-story walk-up building with 4 apartments and one commercial unit. It is a 2,500-square foot auto body shop operating in a 2-car garage that has been in business for over 20 years. 603 Bergenline Avenue contains 3 apartments and 1 indoor garage.

The property is 100% occupied and benefits from a strong unit mix with one 1bedroom/1-bathroom, three 2-bedroom/1-bathrooms and three 3-bedroom/1bathroom units. Each unit is separately metered for electric usage and cooking gas. The landlord pays heat, hot and cold water and sewer for the apartments. The current owners purchased the property in 2016 and maintained the properties well. Some improvements include gut renovations to two units in 603 Bergenline Avenue and installing new gas boilers in each of the units in 2018.

The properties are in a quiet, residential section of Union City on the corner of 6th Street and Bergenline Avenue with easy access to all points of interest in New Jersey and New York City via I-495, I-78, Routes 1-9 and 139 all within 1.5 miles of the property. Tenants in the building could reach New York City Port Authority in 30 minutesby car or 45 minutes via NJ Transit buses andTrains. Union City is a strong rental market with several new apartment building developmentprojects currently underway throughout the city.

The buildings at 601-603 Bergenline Avenue in Union City represent a solid investment based on the strong in place income with true upside potential, in a market with increasingdemand for quality income producing properties.

Investment Highlights

  • Currently cap rate of 5.50% with a Cash-on-cash Return of 9.74%
  • 3-Story Mixed-use building
  • 7 Apartments, 1 Essential business and 1 indoor garage
  • 20 Year Continuous operations as an Auto Repair Shop

Exclusively Listed By

Investment Highlights

  • Currently cap rate of 5.50% with a Cash-on-cash Return of 9.74%
  • 3-Story Mixed-use building
  • 7 Apartments, 1 Essential business and 1 indoor garage
  • 20 Year Continuous operations as an Auto Repair Shop

Investment Overview

Marcus & Millichap is pleased to exclusively market the property located at 601603 Bergenline Avenue in Union City, Hudson County, New Jersey for sale. The offering contains two adjacent properties. 601 Bergenline Avenue is a 3-story walk-up building with 4 apartments and one commercial unit. It is a 2,500-square foot auto body shop operating in a 2-car garage that has been in business for over 20 years. 603 Bergenline Avenue contains 3 apartments and 1 indoor garage.

The property is 100% occupied and benefits from a strong unit mix with one 1bedroom/1-bathroom, three 2-bedroom/1-bathrooms and three 3-bedroom/1bathroom units. Each unit is separately metered for electric usage and cooking gas. The landlord pays heat, hot and cold water and sewer for the apartments. The current owners purchased the property in 2016 and maintained the properties well. Some improvements include gut renovations to two units in 603 Bergenline Avenue and installing new gas boilers in each of the units in 2018.

The properties are in a quiet, residential section of Union City on the corner of 6th Street and Bergenline Avenue with easy access to all points of interest in New Jersey and New York City via I-495, I-78, Routes 1-9 and 139 all within 1.5 miles of the property. Tenants in the building could reach New York City Port Authority in 30 minutesby car or 45 minutes via NJ Transit buses andTrains. Union City is a strong rental market with several new apartment building developmentprojects currently underway throughout the city.

The buildings at 601-603 Bergenline Avenue in Union City represent a solid investment based on the strong in place income with true upside potential, in a market with increasingdemand for quality income producing properties.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower