For Sale
$1,792,000

3501 Hudson AveUnion City, NJ 07087

13-Unit Building w/ Commercial Space

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 13-unit multifamily building in Union City, NJ, situated at 3501 Hudson Avenue. The property, a four-story low-rise structure built in 1930, comprises two buildings: a main residential building and a separate commercial space. The residential portion boasts nine two-bedroom, one-bathroom apartments and three three-bedroom, one-bathroom apartments, along with one additional one-bedroom unit. The detached commercial space offers further income potential. The property features a 6.5% cap rate with a net operating income (NOI) of $116,494, and an asking price of $1,792,000, resulting in a price per unit of $137,846.15. Tenants are responsible for their own electricity and cooking gas (individually metered in the basement), while the owner covers heat and hot water (via a large furnace and two water heaters in the basement). This well-located property, at the intersection of Hudson Avenue and 35th Street, presents a strong return on investment in a desirable New Jersey market. The property is classified as Class C.

Highlights

  • 13-unit multifamily building in Union City, NJ, at 3501 Hudson Avenue.
  • Four-story, 1930s construction, consisting of a main residential building and a separate commercial space.
  • Apartment mix: nine 2BR/1BA, three 3BR/1BA, and one 1BR unit.
  • 6.5% cap rate, $116,494 NOI, $1,792,000 asking price ($137,846.15 per unit).
  • Tenants pay electricity and cooking gas; owner pays heat and hot water.
  • Class C property located at Hudson Avenue and 35th Street.

Property Details for 3501 Hudson Ave

Property type
Apartment buildings
Class
C
Year Built
1930
Buildings
2
Stories
4
Units
13

Location Insight

City
Union City
County
Hudson
State
New Jersey
Latitude
40.772100539919
Longitude
-74.025113460488
3501 Hudson Ave, Union City, New Jersey

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3501 Hudson Ave
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