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An 11,400-square-foot multifamily property in Union City sold for $2 million, according to a Thursday announcement from Marcus & Millichap.
“Union City remains a sound investment, being in one of the densest cities of the country, with a very tight rental market. This deal became highly attractive to our purchaser due to the current cashflow and attractive financing we facilitated with the seller,” Jonathan Zamora of Marcus & Millichap said. “Running our wide-reaching marketing process, we were able to go into a contract with no contingencies and close quickly, achieving our sellers’ goals, which other local brokerages had previously failed to meet in marketing the listing.”
Zamora, an investment specialist in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors.
Located at 721 6th St., this three-story multifamily property is situated in Union City within walking distance to Washington Square Park and is three miles to Hoboken and Jersey Heights. The property is comprised of 11 units, including all two-bed/one-bath units. National retailers nearby include Walgreens, FedEx and Wells Fargo.
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