612 12TH ST Active Save Request In-Person Tour Request Virtual Tour
Union City,NJ 07087
Key Details
Property Type Multi-Family
Sub Type 4 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240020405
Bedrooms 8
Full Baths 8
HOA Fees $2/mo
Annual Tax Amount $26,716
Tax Year 2023
Lot Dimensions 25x177
Property Description
Incredible investment opportunity for a truly turnkey property in a prime location. Built in 2018, this property consists of four spacious two-bedroom, two-bathroom units, generating an impressive $92,224 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 8,286 square feet, with individual apartment sizes ranging from 1,076 to 1,235 square feet, situated on a lot measuring 25 x 178. This property offers 6 dedicated parking spaces, ensuring each unit has its own assigned spot, while one unit also feature a private patio. 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. The building also includes a full-time, live-in superintendent available 24/7 to promptly address any tenant concerns or maintenance issues. This dedicated professional ensures the building is consistently well-maintained, offering residents peace of mind and exceptional service at all times. By having the superintendent on-site, the owner experiences no burden or worries, knowing that the property is in capable hands. 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 packaged together. Union City is an outstanding investment area, and finding a property in such exceptional condition is a rare opportunity.
Location
State NJ
County Hudson
Area Union City
Rooms
Basement None
Interior
Heating A/C Central,Hot Air,Gas,Hot Water
Cooling A/C Central,Hot Air,Gas,Hot Water
Exterior
Exterior Feature Brick,Wood
Parking Features Attached,Covered,Garage