715 22nd Street

The Union City and Hudson County multifamily submarkets cater predominantly to middle-class families and young professionals seeking affordable living with unparalleled access to New York City. These areas are known for their dense populations and diverse communities, offering some of the most competitive rents in the New York metro area. Much of the rental inventory is located near major transportation routes like the NJ Turnpike, Route 3, and the Lincoln Tunnel, making it ideal for commuters working in Manhattan and nearby employment hubs. Historically, demand in Union City and Hudson County has outpaced supply, with limited new development keeping vacancy rates low and occupancy high. In fact, vacancies have remained well below the metro average over recent years. Even with some new construction, including approximately 300 new units delivered in the past year, vacancy rates remain tight at 2.9%, signaling a continued shortage in supply. This constrained supply and high demand have contributed to rents growing by 5.1% over the past year, driving strong investment interest in the market. Over the past 12 months, $320 million worth of multifamily properties have traded hands, reflecting the market’s robust fundamentals. While investment activity remains solid, rising interest rates and tighter financing conditions may temper transaction volume moving forward. However, with strong market fundamentals and proximity to NYC, Union City and Hudson County continue to attract both residents and investors alike.This 8-unit multifamily property presents a lucrative investment opportunity in a highly desirable location. Diversified mix of 1, 2, and 3-bedroom units. Operating with efficiency, the property has well-managed expenses, including insurance, taxes, utilities, and a professional management fee. With its strong income, efficient expense management, and prime location, this property promises to deliver consistent cash flow and attractive returns.