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2004 Bergenline Ave 10 Unit Apartment Building $3,127,477 CAD ($312,748 CAD/Unit) 6.71% Cap Rate Union City, NJ 07087
INVESTMENT HIGHLIGHTS
- High-traffic area with high walk score (95)
- 5 minute drive to the NY Waterway Ferry
- Near Holland Tunnel and George Washington Bridge
- 30 minutes to Manhattan via NJ Transit bus
- Lincoln Tunnel: approximately 20 minutes to NYC
- Easy access to all major highways
EXECUTIVE SUMMARY
Exceptional investment opportunity in the heart of Union City on Bergenline Ave - high-traffic area with very high walk score (95). 2 retail stores on ground floor + 8 residential apartment units upstairs: Approx. 10,200 SF GBA. 12.5' ceiling height and basements for extra storage in retail spaces; Longtime established dry cleaner with steady strong customer base; and Fully occupied 8 apartments. Available Immediately. Nearby retailers: Dunkin Donuts, Valley bank, Post Office, restaurants, dry-cleaner, laundromats, pharmacy. Easy access to all major highways. Ample street parking in the vicinity. Please see brochure for more info. Brochure includes 5% vacancy loss in cap rate analysis for underwriting purposes... building still produces 6.2% cap rate at list price, with vacancy loss consideration. Dry cleaner is currently owner operated and can be delivered vacant or with new operator. New operator would yield 6.7% cap rate with vacancy loss and 7.2% effective cap rate at list price.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$304,158
|
$86.65
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$15,208
|
$4.33
|
| Effective Gross Income |
$288,950
|
$82.32
|
| Taxes |
$50,582
|
$14.41
|
| Operating Expenses |
$28,442
|
$8.10
|
| Total Expenses |
$79,024
|
$22.51
|
| Net Operating Income |
$209,926
|
$59.81
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $304,158 |
| Annual Per SF | $86.65 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $15,208 |
| Annual Per SF | $4.33 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $288,950 |
| Annual Per SF | $82.32 |
| Taxes (CAD) | |
|---|---|
| Annual | $50,582 |
| Annual Per SF | $14.41 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $28,442 |
| Annual Per SF | $8.10 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $79,024 |
| Annual Per SF | $22.51 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $209,926 |
| Annual Per SF | $59.81 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $4,239 CAD | - |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (87)
PROPERTY TAXES
| Parcel Number | 10-00110-0000-00003 | Total Assessment | $3,710,284 CAD |
| Land Assessment | $723,632 CAD | Annual Taxes | $50,582 CAD ($14.41 CAD/SF) |
| Improvements Assessment | $2,986,652 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
10-00110-0000-00003
Land Assessment
$723,632 CAD
Improvements Assessment
$2,986,652 CAD
Total Assessment
$3,710,284 CAD
Annual Taxes
$50,582 CAD ($14.41 CAD/SF)
Tax Year
2025
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2004 Bergenline Ave
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