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Mixed Used Building 8 Apt. 2 stores for sale 814-816 Summit Ave 8 Unit Apartment Building $2,370,272 CAD ($296,284 CAD/Unit) 6.93% Cap Rate Union City, NJ 07087
INVESTMENT HIGHLIGHTS
- Heavy daytime vehicular & foot traffic
- Rear municipal parking lot
- Fully occupied
EXECUTIVE SUMMARY
Commercial Mixed-Use. Prime Investment Opportunity in Union City. Eight residential units plus a commercial retail store that can be used as two stores in the future as building is 100% occupied. The retail space has high ceilings and includes a full basement, providing additional storage or functional space. Tenants pay seperate utilities: electric, heat, hot water and cooking gas.. Inquire for full details on income and expenses. Great income with upside potential. Lot size 50x108. Located in a highly desirable area with heavy foot traffic.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$217,764
|
$16.56
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$217,764
|
$16.56
|
| Taxes |
$39,086
|
$2.97
|
| Operating Expenses |
$13,975
|
$1.06
|
| Total Expenses |
$53,060
|
$4.03
|
| Net Operating Income |
$164,703
|
$12.52
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $217,764 |
| Annual Per SF | $16.56 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $217,764 |
| Annual Per SF | $16.56 |
| Taxes (CAD) | |
|---|---|
| Annual | $39,086 |
| Annual Per SF | $2.97 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $13,975 |
| Annual Per SF | $1.06 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $53,060 |
| Annual Per SF | $4.03 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $164,703 |
| Annual Per SF | $12.52 |
PROPERTY FACTS
| Price | $2,370,272 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $296,284 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.93% | Building Size | 13,151 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2011 |
| Property Subtype | Apartment | ||
| Zoning | C, Union City. - Mixed used | ||
| Price | $2,370,272 CAD |
| Price Per Unit | $296,284 CAD |
| Sale Type | Investment |
| Cap Rate | 6.93% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 13,151 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2011 |
| Zoning | C, Union City. - Mixed used |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
1 1
Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 10-00042-0000-00005 | Total Assessment | $2,658,461 CAD (2025) |
| Land Assessment | $676,848 CAD (2025) | Annual Taxes | $39,086 CAD ($2.97 CAD/SF) |
| Improvements Assessment | $1,981,614 CAD (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
10-00042-0000-00005
Land Assessment
$676,848 CAD (2025)
Improvements Assessment
$1,981,614 CAD (2025)
Total Assessment
$2,658,461 CAD (2025)
Annual Taxes
$39,086 CAD ($2.97 CAD/SF)
Tax Year
2023
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Mixed Used Building 8 Apt. 2 stores for sale | 814-816 Summit Ave
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