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615 Summit Ave 5 Unit Apartment Building $1,670,558 CAD ($334,112 CAD/Unit) 5.98% Cap Rate Union City, NJ 07087
Investment Highlights
- Excellent froot traffic
Executive Summary
Location! Location! Location! Ideally situated on Summit Avenue in Union City, this mixed-use investment property enjoys a highly visible location in one of Hudson County's most established commercial and residential corridors. The property benefits from excellent access to NJ Transit buses with convenient service to Midtown Manhattan and is just minutes from the Lincoln Tunnel, making it highly desirable for commuters. Surrounded by local businesses, restaurants, shopping, schools, parks, and everyday conveniences, the area supports strong demand for both residential and commercial space. Union City's high population density, walkability, and proximity to New York City continue to make it an attractive market for investors seeking stable rental demand and long-term appreciation. The property features two 2-bedroom apartments, two 1-bedroom apartments, and one commercial storefront, generating approximately $109,000 in annual gross income, with operating expenses of approximately $38,000 and a Net Operating Income (NOI) of approximately $71,000. This is a rare opportunity to acquire a well-located, income-producing asset in one of Northern New Jersey's most sought-after commuter markets.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 6+4.5 | 5 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 10-00031-0000-00020 | Improvements Assessment | $1,213,336 CAD (2026) |
| Land Assessment | $438,454 CAD (2026) | Total Assessment | $1,651,790 CAD (2026) |
Property Taxes
Parcel Number
10-00031-0000-00020
Land Assessment
$438,454 CAD (2026)
Improvements Assessment
$1,213,336 CAD (2026)
Total Assessment
$1,651,790 CAD (2026)
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615 Summit Ave
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