Investing in Multifamily in Union City NJ

[Nate S.]

Good Afternoon everyone, 

My name is Nathan, I am looking to purchase a 2-4 family in Union City NJ. I'm looking to connect with other owners and investors in the area *** well as brokers and salespeople working in the area. 

Any discussion, comments and critiques are certainly welcome. 

I look forward to speaking with all of you. 

Best, 

Nate 

[John Errico]

Hey @Nate S. I live and invest in Union City. I'd be happy to chat or grab coffee if you like. We also have a small group of investors that meet every month (mostly Jersey City, Union City, and Hoboken) and I'd be happy to invite you to that. 

Prices have definitely gone up substantially in the past ~12 months in Union City but, as Andrea suggested, there are still deals to be had, even despite the generally high taxes. Things were a little crazy over the summer but seem to be cooling off now (although inventory is down as well). I'd suggest targeting 2 families below $300k (decreasing supply of these), and 3 families in the ~350k range. Pretty much any property at that price is going to require a fair amount of rehab, but you should still be able to make good money.

The "nicer" areas of Union City are generally considered to be the more northern areas (like 30th St and north) and further east (along Palisade or Park), but, like many cities, it's very block-to-block. Just don't be scared off by the fact that a lot of the housing stock is not in the greatest of conditions. Best of luck!