415 6TH ST
Union City, New Jersey NJ 07087
Price: $800,000
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Listing ID: 220007572
Status: ACTIVE

Your new Investment Property awaits you at 415 6th Street! With a Gross Income of $72,228 per annum, an NOI of $47,424, and a Cap Rate of ~6% at asking price, this opportunity is the one you have been searching for — ideally situated in a Federal Opportunity Zone! The building contains a total of 5 residential units, each with their own water heaters and electric meters. The building features a new roof, and multiple new water heaters, well maintained common areas, a spacious backyard and an attractive facade. All tenants have been in place for 3 years or more. The Basement Unit is occupied by Section 8 HAP Tenant, which provides an added level of security and consistency for any investor. The Unit 3 Tenant acts as Superintendent for the building for a $100 Monthly Rent Credit, providing services such as Trash Removal, which provides added convenience for your hands off investment. The Lease for Unit 2 ends in May 2022, the Lease for Unit 5 ends in August 2022, and all other Leases are Month-to-Month. Moreover, all 5 apartments are below their registered rent, so there is upside potential with the ability to increase rents in the future. The property is ideal for a 1031 Exchange buyer, a Qualified Opportunity Fund purchasing in a Federal Opportunity Zone, or simply for any investor looking to secure a terrific new income producer! Do not miss the opportunity to add this high yielding asset to your Real Estate Portfolio today!

Primary Features

Area: Union City
Number of Units: 5
Handicapped Access: no
Mixed Use: no
Estimated Gross Income: 72228
Estimated Operating Expense: 24804
Approximate Lot Size: 25 x 100
Type of Construction: Brick
Elevators: no
Items Included: All fixtures & appliances
Items Excluded: All personal property

Interior Features

External Features

Easements: no
Free Standing: yes
Number of Stories: 2

Location Information

Between: Bergenline Ave & New York Ave
Block: 00024
Lot: 00013

Financial Details

Rent Control: yes
Sale/Rent: For Sale
Tax Database ID: 3
Tax ID: 408
Tax Property ID: 0910408
Taxes: 14617

Additional

Approximate Building Age: 100yr
Charge: yes
Class: CI INVESTMENT - SALE ONLY
Fuel: Gas
Green Card: yes

Zoning Info


© 2022 Hudson County Multiple Listing Service (HCMLS). The data relating to real estate for sale or rent on this web site comes in part from the IDX program of the HCMLS. Real estate listings held by brokerage firms other than Hudson Place Realty are marked with the HCIDX mark and the information about them includes the name of the listing broker. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing or renting.

Listing courtesy of LIBERTY REALTY LLC (201) 222-2900. Data last updated: Tuesday, August 16th, 2022 02:53:39 AM.

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