Potential 7 - 5 BR New Jersey

140 Bay St, Suite 1 Jersey City, NJ 07302
Phone: 201-225-8655
Fax: 201-604-6474
Courtesy of KELLER WILLIAMS CITY LIFE REALTY (201-659-8600)


535 42ND ST
Union City NJ 07087
Cross street:Kennedy and Bergenline


Ownership: For Sale
Rooms: 7
Bedrooms: 5 BR
Bathrooms: 2
Pets: No Pets


Price: $325,000


Potential 7.5% Cap while getting approvals for New Construction 3 or 4 Family. Lot is 25 x 100 and has 8 parking spots. Fair market rent for parking is $150/spot. Single family in rear of property. Current income is $2875/month between single family and the 8 parking spots. Property can be sold with the 4 Family next door (537 42nd Street asking $625,000). Asking price for both properties is $950,000. Total net income between both properties is $65,000. Get good returns while obtaining approvals for either 8 units with both lots or two 3/4 families for the individual lots.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.