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Multifamily

Civic Towers

1306 New York Avenue, Union City, NJ 07087

Listing Price: $2,499,000

Cap Rate
4.94%
Number of Units
13
Price/Unit
$192,231
Price/Gross SF
$208.25
Gross SF
12,000

Investment Overview

Marcus and Millichap has been exclusively hired to market the property located at 1306 New York Avenue in Union City, New Jersey. The property lies on a 42x127 lot and consists of 9 one bedroom on bathroom apartments and 4 two bedroom apartments. All units are separately metered for water, gas, hot water, electric with a subpanel in each apartment, and forced air units in each apartment serving both heat and condition. The building also is equipped with laundry machines in the basement which produces $120 a month in additional income. Upside: Current rents are 35% under market with parking spots being 23% under market.

Investment Highlights

  • Building Built In 2003
  • 13 Unit Three Story Walk Up - Building Is Sprinklered
  • Tenants Are Responsible For Utitlies Including Heat, Air Conditioning, Electricity, Water & Gas
  • 10 Parking Spaces On Site

Exclusively Listed By

Financing By

Listing Price: $2,499,000

Cap Rate
4.94%
Number of Units
13
Price/Unit
$192,231
Price/Gross SF
$208.25
Gross SF
12,000

Investment Highlights

  • Building Built In 2003
  • 13 Unit Three Story Walk Up - Building Is Sprinklered
  • Tenants Are Responsible For Utitlies Including Heat, Air Conditioning, Electricity, Water & Gas
  • 10 Parking Spaces On Site

Investment Overview

Marcus and Millichap has been exclusively hired to market the property located at 1306 New York Avenue in Union City, New Jersey. The property lies on a 42x127 lot and consists of 9 one bedroom on bathroom apartments and 4 two bedroom apartments. All units are separately metered for water, gas, hot water, electric with a subpanel in each apartment, and forced air units in each apartment serving both heat and condition. The building also is equipped with laundry machines in the basement which produces $120 a month in additional income. Upside: Current rents are 35% under market with parking spots being 23% under market.

Exclusively Listed By

Financing By

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