Union City, NJ 07087 · Investment · For Sale · MLS 260015869
913 Summit Ave
$1,499,999
Investment
Use
6
Units
0
Days Listed
About this property
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 oper
Property specifications
The details
Property TypeCI Investment
SubtypeInvestment
UseInvestment
OfferedFor Sale
LocationUnion City, NJ 07087
MLS #260015869
Space
Units6
Stories3
Investment
Annual taxes$14,140
Est. gross income$91,308
Est. operating expense$16,740
Mixed useYes
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 913 Summit Ave?
The asking price is $1,499,999.
What is 913 Summit Ave 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 913 Summit Ave?
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.
