915 22nd St

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915 22nd St

Union City, NJ 07087
Asking Price
$2.33M
Cap Rate
7%
Asset Type
Apartment Building Multifamily
Class
Class B

What's Special

16-Unit Union City Multifamily – 7% Cap Rate, Value-Add, Near Manhattan Transit <p><strong>Value-Add Opportunity</strong></p><ul><li>​16 Units</li><li>​7.00% Cap Rate</li><li>​$145K Price Per Unit</li></ul><p><strong>Building Highlights</strong></p><ul><li>​1 Parking Spot</li><li>​Brick Building</li><li>​Strong unit mix of one- and two-bedroom apartments</li><li>​3 New Boilers in 2024</li><li>​Laundry in Basement</li><li>​Less than 20-minute commute to Midtown Manhattan</li><li>​Separately Metered</li><li>​Tenants pay for, cooking gas, & electric</li><li>​Landlord pays for

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NOI
$80,000
Cap Rate
3.44%
DSCR
0.58
Underwater
Cash-on-Cash
-8.33%
Monthly Payment
$11,512.726
Annual Cash Flow
$-58,152.716

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