An opportunity awaits for a visionary developer to breathe new life into this partially completed foundation. Originally approved for 11 one-bedroom units, the groundwork has already been laid, and the necessary utilities have been connected. However, due to a temporary setback, the previous owner was unable to proceed further.Now, it's your chance to reimagine this project and craft a residential oasis tailored to your vision. Whether you envision a boutique complex with 4 to 8 units, comprising a mix of one and two-bedroom residences, or perhaps something even grander, the sky's the limit.Imagine the potential of crowning this development with a breathtaking penthouse, offering panoramic vistas of the iconic New York City skyline " a truly unforgettable living experience.Don't let this extraordinary opportunity slip away. Seize the moment and transform this foundation into a remarkable residential gem that will leave an indelible mark on the landscape.
OPPORTUNITY To purchase a 6 family with garage in the heart of Union City. Rent roll WAY BELOW MARKET VALUE generating 80k gross and around $63,000 net income yearly. Ton of back end potential to purchase in a growing area with values and rent rolls raising year over year. Located close to all major transportation and shopping and walking distance to anything needed. This is one you don't want to miss as a fantastic portfolio acquisition.
Union City is located in New Jersey. Union City, New Jersey has a population of 67,903. Union City is less family-centric than the surrounding county with 28.98% of the households containing married families with children. The county average for households married with children is 30.83%.
The median household income in Union City, New Jersey is $53,177. The median household income for the surrounding county is $79,795 compared to the national median of $69,021. The median age of people living in Union City is 36.7 years.
The average high temperature in July is 85.4 degrees, with an average low temperature in January of 24.6 degrees. The average rainfall is approximately 47.9 inches per year, with 25.6 inches of snow per year.