2301 – 2303 Central Ave
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Property Description
2301 & 2303 Central Avenue present a rare opportunity to acquire a 40-unit multifamily portfolio in the heart of Union City, NJ, consisting of two adjacent 5-story buildings with a well-balanced mix of 1 bedroom and 2-bedroom units. The property is currently stabilized at approximately 95% occupancy with an in-place NOI of$391,050. Offered at $6,200,000, the asset reflects a 6.31% cap rate on existing income, supported by strong rental demand driven by Union City’s direct access to Midtown Manhattan via the Lincoln Tunnel and extensive NJ Transit connectivity.
Highlights
- Located along Central Avenue, one of Union City’s primary commercial corridors, providing a vibrant live-work-play environment
- With a Walk Score of 97/100, daily errands can be accomplished on foot with easy access to neighborhood shopping, dining, services, and entertainment.
- Multiple NJ Transit bus routes provide direct access to Midtown Manhattan, Hoboken, Jersey City, and surrounding employment centers. Convenient access to regional transportation hubs, including Hoboken Terminal, PATH service, and the Hudson Bergen Light Rail system.
Agent Information
Agent Name: Chris Cervelli
Agent Information: All offers, showings and negotiations through listing broker. Please contact Chris Cervelli at 201--868-6300 ext 18 or email [email protected] for more information.
