512 Monastery Plz
4 Unit Apartment Building $2,886,393 CAD ($721,598 CAD/Unit) 6.27% Cap Rate Union City, NJ 07087
INVESTMENT HIGHLIGHTS
- Turn-key, 4-family
- Minutes from Midtown
- Rare Investment Opportunity
- Ultra-high Rental Income
EXECUTIVE SUMMARY
Rare Investment Opportunity in the Heart of Union City! A truly unique opportunity to own a turn-key, 4-family property just minutes from Midtown Manhattan. Ultra-high rental income due to new development which enabled removal of rent control. This exceptional offering includes two separate structures—a front 2-family home and a rear 2-family home—connected by a charming shared courtyard. Unit 1 offers 1st floor and finished basement. It is fully updated with 3 bedrooms and 2 bathrooms. Unit 2 offers 3 bedrooms and 1 bathroom and is also fully updated. Unit 3 which is part of the rear home, offers 3 bedrooms and 2 bathrooms. Unit 4 offers 2 bedrooms and and 2 bathrooms with a huge private deck. Unit 3 and 4 are brand new renovations. Each unit has separate utilities, laundry in unit, and leases are on file. The property is ideally located just steps from NYC transportation, and near vibrant nightlife, top restaurants, cozy coffee shops, shopping, places of worship, and easy access to Hoboken & Weehawken. Don’t miss out on this rare opportunity—schedule a showing today!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$177,514
|
$83.11
|
PROPERTY FACTS
| Price | $2,886,393 CAD |
| Price Per Unit | $721,598 CAD |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 2,136 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1929/2024 |
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Yard
- Basement
- Deck
- Dining Room
- Family Room
- Freezer
- Island Kitchen
- Patio
- Porch
- Vinyl Flooring
- Large Bedrooms
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+3 | 1 | $4,041 CAD | - |
| 3+3 | 2 | $4,041 CAD | - |
| 4+4 | 3 | $5,556 CAD | - |
| 2+2 | 4 | $3,752 CAD | - |
1 of 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (84)
PROPERTY TAXES
| Parcel Number | 10-00109-0000-00036 | Improvements Assessment | $374,147 CAD |
| Land Assessment | $495,893 CAD | Total Assessment | $870,040 CAD |
ZONING
| Zoning Code | RM (4 Family) |
CONTACT
-
Taylor Lucyk - Lucyk - The Steven
