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1701 Central Ave 8 Unit Apartment Building $2,230,925 CAD ($278,866 CAD/Unit) 6.71% Cap Rate Union City, NJ 07087
EXECUTIVE SUMMARY
8-Unit Brick Building – Prime Union City – 6.71% Cap Rate + Garage Income Potential
Legal 8-family, freestanding brick building located directly on Central Avenue in the heart of Union City. The property sits on a 27 x 84 lot with full lot coverage and a brick and concrete façade. Fully compliant with all city codes and very well maintained.
The building consists of (3) three-bedroom units and (5) one-bedroom units. All apartments have separate heat and electric with individual meters. Low tenant turnover, long-term renters, and low operating costs make for reliable cash flow.
A double garage in the rear offers value-add potential for additional rental income.
Current income supports a true 6.71% cap rate, with room for future upside. Located in a high-demand rental area with strong fundamentals.
Financials available upon request. Serious inquiries only.
Legal 8-family, freestanding brick building located directly on Central Avenue in the heart of Union City. The property sits on a 27 x 84 lot with full lot coverage and a brick and concrete façade. Fully compliant with all city codes and very well maintained.
The building consists of (3) three-bedroom units and (5) one-bedroom units. All apartments have separate heat and electric with individual meters. Low tenant turnover, long-term renters, and low operating costs make for reliable cash flow.
A double garage in the rear offers value-add potential for additional rental income.
Current income supports a true 6.71% cap rate, with room for future upside. Located in a high-demand rental area with strong fundamentals.
Financials available upon request. Serious inquiries only.
PROPERTY FACTS
| Price | $2,230,925 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $278,866 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 6.71% | Building Size | 7,811 SF |
| Gross Rent Multiplier | 14.94 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1878/1995 |
| Property Subtype | Apartment | ||
| Zoning | R1 - Residential | ||
| Price | $2,230,925 CAD |
| Price Per Unit | $278,866 CAD |
| Sale Type | Investment |
| Cap Rate | 6.71% |
| Gross Rent Multiplier | 14.94 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 7,811 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1878/1995 |
| Zoning | R1 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 1+1 | 4 | - | - |
| Studios | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (72)
PROPERTY TAXES
| Parcel Number | 10-00093-0000-00036 | Improvements Assessment | $1,092,765 CAD |
| Land Assessment | $676,373 CAD | Total Assessment | $1,769,138 CAD |
PROPERTY TAXES
Parcel Number
10-00093-0000-00036
Land Assessment
$676,373 CAD
Improvements Assessment
$1,092,765 CAD
Total Assessment
$1,769,138 CAD
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1701 Central Ave
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