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610 -612 12th Street
Union City, New Jersey
$3,798,000 Price
16 Bedrooms   16.0 Baths
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Photo 1 of 610 -612 12th Street, Union City, New Jersey, $3,798,000, Web #: 23225963Previous PhotoNext Photo1 of 30

Turnkey Investment Property

Incredible investment opportunity for a truly turnkey property in a prime location. Built in 2018, this property consists of two oversized buildings featuring eight spacious two-bedroom, two-bathroom units, generating an impressive $182,408 in net annual income with a CAP rate of approx. 5%. Each unit has separate utilities,...

Incredible investment opportunity for a truly turnkey property in a prime location. Built in 2018, this property consists of two oversized buildings featuring eight spacious two-bedroom, two-bathroom units, generating an impressive $182,408 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 16,572 square feet, with individual apartment sizes ranging from 1,076 to 1,235 square feet, situated on a combined lot measuring 50 x 178. This property offers 12 dedicated parking spaces, ensuring each unit has its own assigned spot, while two units also feature private patios. 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 sold separately.

Union City is an outstanding investment area, and finding a property in such exceptional condition is a rare opportunity.

Floorplan for 610 -612 12th Street

Floorplan for 610 -612 12th Street

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

Union City, New Jersey
Type: House
Price: $3,798,000
Re Tax: $4,453
Web ID: 23225963

Info & Amenities

Type: 5 Family House
Rooms: 40.0
Bedrooms: 16
Bathrooms: 16.0
Facade: Wood

Listing Agent(s)

Brown Harris Stevens Real Estate Agent Westley Page
Westley Page
Email Westley
o: 201-478-6721
c: 201-398-8160
Brown Harris Stevens Real Estate Agent Peter Cossio
Peter Cossio
Email Peter
o: 201-478-6710
c: 917-855-5817

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