3501 Hudson AveUnion City, NJ 07087

  • Residential income properties
For Sale
$1,792,000 View listing

Property Details for 3501 Hudson Ave

Year built
1930
Property type
Residential income properties
Property subtype
Multifamily properties

Description

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.

3501 Hudson Ave, Union City, New Jersey

Location Insight

City
Union City
County
Hudson
State
New Jersey
Latitude
40.7721
Longitude
-74.0251

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