702 17th St, Union City, NJ 07087

Property Description

Meticulously maintained, legal 8-family freestanding brick building located in the heart of Union City, right on highly desirable Central Avenue. This property sits on a 27 x 84 lot with full lot coverage, a brick & concrete façade, and has been kept fully up to date with all city requirements. The building is comprised of (3) three-bedroom apartments and (5) one-bedroom apartments, all with separate heat and electric, individual meters, and minimal occupants per unit, making for stable, long-term tenancy. Property also features a double garage with value-add potential to lease separately for additional income. Current cap rate is a true 6.5%, with further upside available. Excellent cash flow, low expenses, and prime location in one of Union City’s most sought-after rental markets make this an ideal investment opportunity. Financials available upon request. Serious inquiries only.