BEDS4
BATHS4 full 2 partial
MLS#4049641
STATUS
PROPERTY TYPEMulti Unit - Multiple
Property Description
Exceptional value-add mixed-use investment opportunity in the heart of Union City! Ideal for a 1031 exchange or owner-occupant, this income-producing property features 4 one-bedroom residential apartments, 2 street-level commercial storefronts (approximately 700 SF each with basement storage), plus a separate rear auxiliary structure with city-approved approvals already in place for an additional residential unit. The residential apartments are primarily occupied by long-term month-to-month tenants, creating immediate upside through future rent increases. The commercial spaces are occupied by established long-term tenants (CBD store & salon) on annual leases that have consistently renewed, providing stable income while allowing for future rental adjustments. The approved rear auxiliary structure has already been gutted and is ready to be completed into a spacious 2-bedroom residence, with potential for a 3-bedroom layout perfect for an owner to occupy while collecting income from the remaining units, or as an additional rental generating an estimated $2,400-$2,700/month. Once completed, projected NOI is approximately $104,500/year with strong upside as rents are brought to market. Recent capital improvements include upgraded electric and gas meters. Separate gas and electric utilities, public water, public sewer, and natural gas with tenants paying their own utilities keep operating expenses low, making this an outstanding investment just minutes from New York City.
Property Features
Property Type: Multi Unit - Multiple
Basement: Full, Unfinished
Basement: Yes
Cooling: See Remarks, Window A/C(s)
Fuel Type: Electric, Gas-Natural, See Remarks
Heating: 4+ Units, Radiators - Hot Water, See Remarks
Lot Size: 0.06 Acres
Roof Type: Rubberized
Taxes: $14,140
Year Built: 1910
Feature Descriptions
Driveway: On-Street Parking
Exterior: Vinyl Siding
Lot: Level Lot
Lot Dimensions: 0.06 acre(s)
Sewer: Public Sewer, See Remarks
Utilities: All Underground, Electric, Gas-Natural
Water: Public Water, See Remarks
Listed By / Shown By
Listed By
Agency Name: WEICHERT REALTORS
Agency Contact: 973-970-8292
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
Estimate Your Payment
Estimated Payment
$ 4,438.15 per month $2,882.11 Principal & Interest $1,178.33 Property Tax $377.71 Homeowner's InsuranceChange Payment Information
913 Summit Ave | MLS# 4049641
This multi-family property located at 913 Summit Ave, Union, NJ 07087 is currently listed for sale with an asking price of $1,295,000. Search Union real estate on www.realtymark.net today.