414 MONASTERY PL
Property Description
414 Monastery Place, Union City | 3-Family Investment | $849,000 A strong investment should make sense today and still leave room for tomorrow. 414 Monastery Place does exactly that. Recently updated and fully occupied, this 8-bedroom, 3-full-bath, 3-family generates approximately $83,400 in annual gross rental income with reasonable operating expenses and a projected 8.1% cap rate based solely on the 3-family. For investors, it's a straightforward opportunity: three income-producing units, strong gross rents, an attractive return and long-term upside in one of Hudson County's active rental markets. For an owner-occupant, the property also offers future flexibility to live in one unit when available while income from the others helps offset ownership costs. And for the buyer thinking bigger, there's another conversation worth having. The same owner is also offering 414 Monastery Place Rear, a separately taxed single-family home, and 408-12 Monastery Place Rear, an adjacent vacant parcel-both currently listed for sale. Combined with the 3-family, the three parcels total approximately 8,050 SF of land, creating the opportunity to acquire the entire assemblage and explore a larger income-and-development strategy, subject to zoning and municipal approvals. Stay focused on the 3-family or think bigger-the choice is yours. Inquire within for details on the complete three-parcel opportunity. $83,400 gross income. 8.1% projected cap. Fully occupied. Recently updated. 414 Monastery Place is already working from day one.
Broker Details
Prominent Properties (201) 795-5200
MLS ID: 16537 State License Number: 1648869
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $849,000 |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 8 |
| Number of Bathrooms: | 3 |
ID: 3yd-HCMLSNJ-260018087
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