16
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$899,000
Est. payment /mo
New
414 MONASTERY PL Union City, NJ 07087
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Key Details
Property Type Single Family Home
Sub Type One Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260006841
Style Multi-Level
Annual Tax Amount $16,980
Property Sub-Type One Family
Property Description
414 Monastery Place in Union City, New Jersey offers a rare opportunity to acquire one of the largest development lots in Union City, combined with a four-family asset that provides both in-place income and clear upside. The property (11 Beds, 4 Baths) is configured with three three-bedroom, one-bath units and one two-bedroom, one-bath unit, offering a strong unit mix that consistently attracts renters in this market. Set on a massive triple lot, the property also delivers an unmatched outdoor space experience for residents, a feature that is exceptionally rare in this area and a meaningful driver of tenant demand and long-term value. Two of the units are currently vacant, allowing a new owner to immediately lease at market rates and significantly increase cash flow from day one. The remaining occupied units are rent stabilized, providing steady baseline income with the potential to grow the overall rent roll over time. This is a true value-add opportunity with the ability to improve income through leasing the vacant units, optimizing rents, and potentially expanding the property to add additional rental units, subject to buyer verification. While condo conversion is currently not permitted in Union City, the property stands out as a strong long-term rental investment with scalability in a supply-constrained market. Located on Monastery Place, the asset benefits from close proximity to New York City transit, consistent rental demand, and ongoing neighborhood growth.
Location
State NJ
County Hudson
Area Union City
Rooms
Basement None
Interior
Heating Gas, Hot Water, Radiators
Cooling Gas, Hot Water, Radiators
Equipment None
Exterior
Exterior Feature Other-See Remarks
Parking Features None
Listed by SERHANT NEW JERSEY LLC
NEARBY SCHOOL & BUSINESS
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