705 24th St, Union City, NJ 07087

Investor's dream! This beautiful 2-family property was recently renovated and is in excellent condition! The current market rents equate to a Cap Rate of 7%. 1 extra wide legal parking space. Depending on the size of your vehicles, it can fit 2 cars. Each unit has a spacious private backyard and ring doorbell systems. Laundry and three 8x10 storage spaces in the basement. Both units have 1 bedroom and 1 bathroom, modern appliances, large closets, and mini-split A/C and split-heat-pump system. Both units have a private backyard as the large backyard is divided by high-quality fencing to create 2 private backyards. Unit 1 market rent is $1950. Unit 2 market rent is $2050. All utilities billed separately except sewer. AND! It is not subject to any kind of rent control! Seller financing available at 20% down with a 5-year balloon loan at 8% interest. The buyer's monthly payments will be interest only. Monthly payments will be $3,120 for 5 years. At the end of the 5 year loan, the remaining principal will be owed to the seller. Buyer can then refinance the loan with a lending institution.