Exceptional value-add mixed-use investment opportunity in the heart of Union City! Ideal for a 1031 exchange or owner-occupant, this income-producing property features 4 one-bedroom residential apartments, 2 street-level commercial storefronts (approximately 700 SF each with basement storage), plus a separate rear auxiliary structure with city-approved approvals already in place for… Read More an additional residential unit. The residential apartments are primarily occupied by long-term month-to-month tenants, creating immediate upside through future rent increases. The commercial spaces are occupied by established long-term tenants (CBD store & salon) on annual leases that have consistently renewed, providing stable income while allowing for future rental adjustments. The approved rear auxiliary structure has already been gutted and is ready to be completed into a spacious 2-bedroom residence, with potential for a 3-bedroom layout perfect for an owner to occupy while collecting income from the remaining units, or as an additional rental generating an estimated $2,400-$2,700/month. Once completed, projected NOI is approximately $104,500/year with strong upside as rents are brought to market. Recent capital improvements include upgraded electric and gas meters. Separate gas and electric utilities, public water, public sewer, and natural gas with tenants paying their own utilities keep operating expenses low, making this an outstanding investment just minutes from New York City. Read Less
Courtesy of WEICHERT REALTORS.
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Square Ft.
4,290
Lot Size
0.06 Acres
Year Built
1910
MLS Number
4045819
30 Days Snapshot Of 07087
$438k
0%
(avg) sold price
101
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Full, Unfinished, Yes
Building
Built in 1910
Cooling
Window A/C(s)
Exterior Features
See Remarks, Vinyl Siding
Water Features
Public Water
Heating
Electric, Gas-Natural, See Remarks, Radiators - Hot Water, See Remarks
Lot
Approximate Lot Size: 25X98, 0.06 acres, Level Lot
Property
4,290 sqft building, 6 units
Roof
Rubberized, See Remarks
Sewer
Public Sewer
Taxes
Annual Tax Amount: $14,140, Tax Rate: 1.848
Utilities
All Underground, Electric, Gas-Natural
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All information contained herein deemed reliable but not guaranteed. Buyers should personally verify all information. GSMLS Data provided via Home Junction, Inc.
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