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610-612 12TH ST

Union City, NJ 07087
  • $3,798,000
  • STATUS: Active
  • ON SITE: 48 Days
  • MLS #: 240020406
UPDATED: 46 min ago
$3,798,000
  • 0
    BEDS
  • N/A
    ACRES
  • 16
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:
Area:

School Ratings & Info

Description

Incredible investment opportunity for a truly turnkey property in a prime location. Built in 2018, this property consists of two oversized buildings featuring eight spacious two-bedroom, two-bathroom units, generating an impressive $182,408 in net annual income with a CAP rate of approx. 5%. Each unit has separate utilities, with tenants responsible for their own water, gas, electricity, and sewer expenses. The total building spans 16,572 square feet, with individual apartment sizes ranging from 1,076 to 1,235 square feet, situated on a combined lot measuring 50 x 178. This property offers 12 dedicated parking spaces, ensuring each unit has its own assigned spot, while two units also feature private patios. Moreover, any unused parking spots present an excellent opportunity for additional rental income. These modern apartments boast individual washers and dryers, red oak hardwood flooring, central heating and air conditioning, granite countertops, stainless steel appliances, and granite counters and mosaic tile in the kitchens and classic subway tile in the bathrooms. The building is equipped with a central reporting fire alarm, security systems, and a whole building sprinkler system. Conveniently located near major highways (Route 3, 495, & 9) and public transportation options, including bus service to Port Authority that takes less than 30 minutes, this property is also close to parks, restaurants, shopping, and grocery stores. The buildings at 610 12th Street and 612 12th Street can be sold separately. Union City is an outstanding investment area, and finding a property in such exceptional condition is a rare opportunity.

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© 2024 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or PRIME Real Estate Group. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than PRIME Real Estate Group are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2024-12-04T09:26:18.06.
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610-612 12TH ST Union City, NJ 07087

  • Price: $3,798,000
  • Status: Active
  • On Site: 48 Days
  • Updated: 46 min ago
  • MLS #: 240020406
0
Beds
16
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Union City
County:
Hudson
Area:
Union City
Property Description
Incredible investment opportunity for a truly turnkey property in a prime location. Built in 2018, this property consists of two oversized buildings featuring eight spacious two-bedroom, two-bathroom units, generating an impressive $182,408 in net annual income with a CAP rate of approx. 5%. Each unit has separate utilities, with tenants responsible for their own water, gas, electricity, and sewer expenses. The total building spans 16,572 square feet, with individual apartment sizes ranging from 1,076 to 1,235 square feet, situated on a combined lot measuring 50 x 178. This property offers 12 dedicated parking spaces, ensuring each unit has its own assigned spot, while two units also feature private patios. Moreover, any unused parking spots present an excellent opportunity for additional rental income. These modern apartments boast individual washers and dryers, red oak hardwood flooring, central heating and air conditioning, granite countertops, stainless steel appliances, and granite counters and mosaic tile in the kitchens and classic subway tile in the bathrooms. The building is equipped with a central reporting fire alarm, security systems, and a whole building sprinkler system. Conveniently located near major highways (Route 3, 495, & 9) and public transportation options, including bus service to Port Authority that takes less than 30 minutes, this property is also close to parks, restaurants, shopping, and grocery stores. The buildings at 610 12th Street and 612 12th Street can be sold separately. Union City is an outstanding investment area, and finding a property in such exceptional condition is a rare opportunity.
Exterior Features

Construction brick Covered Parking Yes Lot Size 50x178 Number Parking Spaces 12 Stories 3

Interior Features

Two Bedrooms 8

Property Features

Approximate Building Age 6 yrs Commercial Type Investment Easements No Elevators No Flood None Free Standing Yes Fuel Gas Green Card Yes Gross Income 245760 Handicap Access Yes Internet Yes Lead Paint Form No Mixed Use No Operating Expenses 9920 Rent Control No Taxes 53432

Listing provided courtesy of BROWN HARRIS STEVENS NEW JERSEY:201-478-6700.


© 2024 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or PRIME Real Estate Group. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than PRIME Real Estate Group are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2024-12-04T09:26:18.06.
 
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PRIME Real Estate Group
98 Park Avenue
Hoboken NJ, 07030