28
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$1,499,999
Est. payment /mo
4 Beds
5 Baths
4,290 SqFt
Active
913 Summit Ave Union City, NJ 07087
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Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,290 sqft
Price per Sqft $349
MLS Listing ID 4045817
Style See Remarks
Bedrooms 4
Full Baths 4
Half Baths 2
Year Built 1910
Annual Tax Amount $14,140
Tax Year 2025
Lot Size 2,613 Sqft
Property Description
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 operating expenses low, making this an outstanding investment just minutes from New York City.
Location
State NJ
County Hudson
Zoning C
Rooms
Basement Full, Unfinished
Interior
Interior Features See Remarks
Heating Electric, Gas-Natural, See Remarks
Cooling See Remarks, Window A/C(s)
Heat Source Electric, Gas-Natural, See Remarks
Exterior
Exterior Feature Vinyl Siding
Utilities Available All Underground, Electric, Gas-Natural
Roof Type Rubberized
Building
Lot Description Level Lot
Sewer Public Sewer, See Remarks
Water Public Water, See Remarks
Architectural Style See Remarks
Others
Senior Community No
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