REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,895,000
Est. payment /mo
New
512 MONASTERY PL Union City, NJ 07087
10 Beds
7 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 4 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250013804
Bedrooms 10
Full Baths 7
HOA Fees $4/mo
Annual Tax Amount $16,000
Tax Year 2024
Lot Dimensions 25x174
Property Sub-Type 4 Family
Property Description
Introducing 512 Monastery Place — The money maker! This prime 4-family investment property is ideally located just half a block from Bergenline Avenue and NYC transportation, making it a commuter's dream. This well maintained building features three of the 4 units being renovated with modern finishes and layouts that attract high-quality tenants. Residents enjoy access to a private central courtyard, offering a unique sense of community and outdoor space rarely found in Union City multifamily properties. This also makes it pet friendly. All units have separate utilities (except for water), offering convenience and minimizing landlord overhead. One of the units has a second door leading to a finished basement with a large rec room and full bath. With a monthly gross rental income of $12,250 and low expenses, this property currently yields a solid 6.61% cap rate. Rents are registered higher with the township making future increases easy. Annual operating costs include approx $16,000 in taxes, $4,000 in insurance, and $3,000 for water. Roof & furnace 2 years young! Whether you're looking to expand your portfolio or secure a strong cash-flowing asset in one of Hudson County's most vibrant markets, 512 Monastery Place is the opportunity you've been waiting for.
Location
State NJ
County Hudson
Area Union City
Rooms
Basement Partial Finish
Interior
Heating A/C Window, A/C Wall, Baseboard
Cooling A/C Window, A/C Wall, Baseboard
Exterior
Exterior Feature Brick
Parking Features None
Listed by REAL