Description
Rare - Legal, renovated 4-family property at an amazing 7%+ cap rate with below-market rents and value add potential. Incredible investment opportunity in this beautiful 3 family + 1 single family building located on 1 lot, with a 2016 determination in place from Union City exempting the property from rent control. Situated in the heart of Union City, this property features 3 two bedroom/1 bath units and 1 three bedroom/1 bath unit, finished basement with bathroom which is currently used by owner as storage space; private courtyard, and brand new furnace under warranty. Long-term tenants in place with upside on the rents and potential to rent out basement as storage space. Located just off Summit Ave, you'll find easy access to shopping, dining, nightlife and NYC Transit to Port Authority.
