6 Unit Multi-family | $49,481 N.O.I | Add Value Asset
2803-2805 Palisade Avenue
Union City, NJ 07087
Highlights
- Strategically Located just miles from NYC
- Ideal for "Add Value" asset contribution from ownership
- Annual Rental Increases of 3% per year
Description
The Elia Realty Group (ERG) and Ryan Cooper powered by KW Commercial, are proud to present an exciting new opportunity to own this (x6) unit income producing investment sale.
Explore the potential of this exceptional 6-unit multi-family investment property nestled in the heart of Union City, NJ. Ideal for new entrants into the market or seasoned investors with a diverse portfolio, this property promises both immediate returns and long-term appreciation. Investment Highlights:
Diverse Unit Mix: Catering to varied tenant needs with a well-balanced assortment of 1, 2, and 3-bedroom units.
Proximity to Urban Amenities: Enjoy the convenience of nearby shopping, dining, and public transportation options.
Proven Track Record: A lucrative investment with a history of stable rental income.
Ideal for: New Investors: A perfect entry point into the lucrative multi-family real estate market.
Seasoned Investors: A strategic addition to a portfolio seeking stable returns and future appreciation.
Union City is a city in the northern part of Hudson County, in the U.S. state of New Jersey. As of the 2020 United States census, the city was the state's 18th-most-populous municipality, with a population of 68,589, an increase of 2,134 (+3.2%) from the 2010 census count of 66,455, which in turn had reflected a decline of 633 (−0.9%) from the 67,088 counted in the 2000 census. As of the 2010 Census, among cities with a population of more than 50,000, it was the most densely populated city in the United States,[a] with a density of 54,138 per square mile of land. The Census Bureau's Population Estimates Program calculated that the city's population was 65,366 in 2022, ranking the city the 590th-most-populous in the country.
Union City was incorporated as a city by an act of the New Jersey Legislature on June 1, 1925, with the merger of Union Hill and West Hoboken Township.
Two major waves of immigration, first of German speakers and then of Spanish speakers, greatly influenced the development and character of Union City. Its two nicknames, "Embroidery Capital of the United States" and "Havana on the Hudson", reflect important aspects of that history. Thousands visit Union City each year to see the nation's longest-running passion play.
Union City is where Mallomars were first sold and the site of the first lunch wagon, built by Jerry and Daniel O'Mahoney and John Hanf, which helped spark New Jersey's golden age of diner manufacturing, for which the state is colloquially referred to by author Richard J.S. Gutman as the "diner capital of the world".
