512 Monastery Place

Union City NJ 07087

Duplex

Currently for sale - view listing

Overview

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.