Union City, NJ 07087-4456 · Investment · For Sale · MLS 260022270
412 Monastery Pl
$1,279,000
Investment
Use
10
Units
1
Days Listed
About this property
A fully rented ten-unit apartment building in Union City. 408-412 Monastery Place brings in $113,706.84 a year at an asking price of $1,279,000 - a 6.00% cap rate on the reported figures, with all ten apartments occupied. The building also offers a clear income opportunity: ten separate apartment water meters are reported in place. If the leases and billing allow the $5,000 water and sewer expense to be recovered from tenants - a step that requires lease and billing verification - income after listed expenses would rise to $81,720 and the cap rate to 6.39%, income that would support a value of roughly $1,362,000 at the same 6% cap. Presented by Team Tarek Real Estate Group at Prominent Properties Sotheby's International Realty.
Property specifications
The details
Property TypeCI Investment
SubtypeInvestment
UseInvestment
OfferedFor Sale
LocationUnion City, NJ 07087-4456
MLS #260022270
Space
Units10
ConstructionWood Frame
Building systems
SprinklersWet
Investment
Annual taxes$21,586
Est. gross income$111,418
Rent controlYes
Zoning & permitted use
Zoning and permitted-use codes are not published in the MLS IDX feed, so this page does not state one. Before you sign a lease or a contract, permitted use has to be confirmed with the Union City zoning office. Andrew Diaz can pull the full broker file and work that question through with you.
Location
Questions about this property
What is the asking price for 412 Monastery Pl?
The asking price is $1,279,000.
What is 412 Monastery Pl zoned for?
Zoning is not published in the MLS IDX feed, so this page does not state one. The listing describes the property as Investment, but permitted use must be confirmed with the Union City zoning office before you sign anything. Andrew Diaz can pull the full file and work that question through with you.
How do I tour 412 Monastery Pl?
Call or text Andrew Diaz at (551) 235-3473. He can arrange a walkthrough, pull the full broker file, and represent you through the purchase.
