715 22ND ST Union City NJ 07087

Turnkey 8-unit brick multifamily located in the heart of Union City, NJ, one of Hudson County’s most stable and supply-constrained rental markets. Fully occupied with strong in-place cash flow and long-term upside through rental growth.

The property consists of eight well-maintained units with a diversified unit mix and steady tenant demand driven by proximity to Midtown Manhattan, Lincoln Tunnel access, and major transit routes.

At the current asking price of $999,999, the property offers an 8.44% cap rate on in-place NOI, with additional upside through modest rent increases and operational efficiencies.

Highlights:

• Fully occupied 8-unit investment
• Brick construction (low maintenance)
• In-place NOI: $89,484
• Cap rate at ask: ~8.44%
• Below replacement cost
• Walkable location near schools, retail, restaurants & transit
• Ideal for local investors, NYC buyers, and 1031 exchanges

Value-add opportunity through rent growth and self-management.​

Seller reviewing offers as received.​

Investment Highlights

• Fully Occupied 8-Unit Multifamily
  Stabilized, income-producing asset with strong in-place cash flow and minimal vacancy risk.

• Attractive In-Place Yield
  Generates $89,484 NOI offering an ~8.44% cap rate at asking price, compelling for Hudson County.

• Brick Construction | Low Maintenance
  Durable brick building reduces long-term capex and operating risk.

• NYC-Adjacent Location
  Minutes to Midtown Manhattan with easy access to the Lincoln Tunnel, NJ Transit buses, and major highways.

• Supply-Constrained Rental Market
  Union City’s dense urban footprint and limited new multifamily development support long-term rent growth.

• Upside Through Rental Increases
  In-place rents below market with ability to push rents over time, enhancing NOI and exit value.

• Operational Upside via Self-Management
  Optional self-management removes $2,500 annual expense, immediately increasing cash flow.

• Below Replacement Cost
  Acquisition cost significantly below current construction costs for comparable brick multifamily.

• Strong Long-Term Appreciation Potential
  Hudson County benefits from continued NYC migration, employment growth, and sustained rental demand.

• Ideal for Multiple Buyer Profiles
  Well-suited for local investors, NYC buyers, and 1031 exchange purchasers seeking stable yield.