Skip To Content

415 6TH ST

Union City, NJ 07087
  • $800,000
  • STATUS: Active
  • ON SITE: 60 Days
  • MLS #: 220007572
Price Reduced
UPDATED: 13 min ago
$800,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:
Area:

School Ratings & Info

Description

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!

Monthly Payment Calculator



© 2022 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 eXp Realty. 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 eXp Realty 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: 2022-06-29T18:25:53.23.
www.sellwithsikora.com/homes/128216162
Print Image

415 6TH ST Union City, NJ 07087

  • Price: $800,000
  • Status: Active
  • On Site: 60 Days
  • Updated: 13 min ago
  • MLS #: 220007572
0
Beds
0
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Union City
County:
Hudson
Area:
Union City
Property Description
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!
Exterior Features

Construction Brick Lot Size 25 X 100 Stories 2

Property Features

Approximate Building Age 100Yr Commercial Type Investment Easements No Elevators No Free Standing Yes Fuel Gas Green Card Yes Gross Income 72228 Handicap Access No Internet Yes Lead Paint Form Yes Mixed Use No Operating Expenses 24804 Rent Control Yes Taxes 14617

Listing provided courtesy of Liberty Realty Llc:201-222-2900.


© 2022 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 eXp Realty. 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 eXp Realty 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: 2022-06-29T18:25:53.23.
 
https://bt-photos.global.ssl.fastly.net/liberty/orig_boomver_1_220007572-2.jpg https://bt-photos.global.ssl.fastly.net/liberty/orig_boomver_1_220007572-2.jpg https://bt-photos.global.ssl.fastly.net/liberty/orig_boomver_1_220007572-2.jpg
Logo
eXp Realty
28 Valley Rd Suite 1
Montclair NJ, 07042