Analyzing a MultiFamily deal in Union City NJ

[Chris H.]

Looking at a 3 family w/ finished basement in Union City below I-495, approximately cost $750k with conventional loans (20%).

At present time, the basement is non a permitted living dwelling unit.  There's 2 vacant units and 1 rented for approximately 1300/mo.  Believe this unit was registered with the UC rent control boards.  Does the 2 other vacant units fall under the same Union City Rent Stabilization Ordinance 2017?   Don't think they were registered, but is there a online link or local clerk's office to check if these two vacant units were registered?

Would this be a good or bad deal?  Plan to fix up the 2 vacant units and raise the rent roll.  The after repairs rental should be enough to cover my expenses and cash flow ~$200 - 500 per month.  Thinking about a buy and hold strategy, and hopefully the UC area will appreciate over next 5-10 years. 

Any thoughts are welcome, thank you.