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Mixed-Use

2508 Bergenline Avenue, Union City

2508 Bergenline Ave, Union City, NJ 07087

Listing Price: $1,320,000

Cap Rate
6.02%
Number of Units
9
Occupancy
97.0%
Price/Unit
$146,667
Price/Gross SF
$184.62
Gross SF
7,150

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 2508 Bergenline Avenue, a nine unit mixed use brick building located in Union City. The property has two small retail spaces and seven large two-bedroom apartments. The building has very minimal turnover due to the location and strong collections. The current owner has kept the property in excellent shape with little to no deferred maintenance for the last 40+ years. The building has recently been upgraded with a new boiler, new water heaters and a fully replaced roof. Tenants are responsible for hot water, water/sewer, cooking gas and electric. Union City has a lively residential area and transportation hub. Hudson County is becoming a more prosperous area for renters seeking an affordable alternative to New York City. The property is located a 4 minute walk to the 30th St Bergenline bus stop with an under 10 minute trip into midtown Manhattan and is just 2 miles from the Lincoln Tunnel. The property is situated closely to Newark Liberty, JFK and La Guardia Airports. The properties have easy access to Route 1 & 9, Interstate 95, Interstate-78, the Lincoln & Holland Tunnel and are in walkable distance to restaurants, theaters and many national retailers.

Investment Highlights

  • Attractive going in cap rate of 6.02 percent with a 6.63 percent cash on cash return
  • 10-15 minutes to NYC
  • Four minute walk to the 30th St at Bergenline Bus stop which offers a direct ride into Manhattan in under 10 minutes
  • No deferred maintenance

Exclusively Listed By

Mixed-Use

2508 Bergenline Avenue, Union City

Listing Price: $1,320,000

Cap Rate
6.02%
Number of Units
9
Occupancy
97.0%
Price/Unit
$146,667
Price/Gross SF
$184.62
Gross SF
7,150

Investment Highlights

  • Attractive going in cap rate of 6.02 percent with a 6.63 percent cash on cash return
  • 10-15 minutes to NYC
  • Four minute walk to the 30th St at Bergenline Bus stop which offers a direct ride into Manhattan in under 10 minutes
  • No deferred maintenance

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 2508 Bergenline Avenue, a nine unit mixed use brick building located in Union City. The property has two small retail spaces and seven large two-bedroom apartments. The building has very minimal turnover due to the location and strong collections. The current owner has kept the property in excellent shape with little to no deferred maintenance for the last 40+ years. The building has recently been upgraded with a new boiler, new water heaters and a fully replaced roof. Tenants are responsible for hot water, water/sewer, cooking gas and electric. Union City has a lively residential area and transportation hub. Hudson County is becoming a more prosperous area for renters seeking an affordable alternative to New York City. The property is located a 4 minute walk to the 30th St Bergenline bus stop with an under 10 minute trip into midtown Manhattan and is just 2 miles from the Lincoln Tunnel. The property is situated closely to Newark Liberty, JFK and La Guardia Airports. The properties have easy access to Route 1 & 9, Interstate 95, Interstate-78, the Lincoln & Holland Tunnel and are in walkable distance to restaurants, theaters and many national retailers.

Exclusively Listed By

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