313 18th St, Union City, NJ 07087

Property Description

Investors, your search is over for your next turnkey property. 313 18th st in Union City is a fully occupied, rent-controlled 3-family property offering a stable and turnkey investment opportunity. Unit 1 is a 2 bed/1 bath and units 2 & 3 are 3 bed/1 bath each. Located in Union City, near the Weehawken border and just off Palisade Avenue, the property provides convenient access to Hoboken, the Lincoln Tunnel, and nearby shops and retail. The building generates $7,850 per month in fully registered rental income, with all tenants paying rent on time via ACH. Each unit features in-unit laundry, modern upgrades, and efficient systems. Recent capital improvements totaling over $100,000 include a full basement remodel with new floors, insulation, and a redesigned backyard with drip irrigation, plus a new roof, high-efficiency boiler, and tankless water heater. All three leases are active through mid-2026 to 2027, offering immediate, reliable cash flow with minimal maintenance. With a 7% cap rate, this one won't last.