721 6th St. in Union City — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has sold an 11-unit apartment building in Union City for $2 million, in a newly announced deal by Marcus & Millichap.
According to the firm, the three-story property at 721 6th St. includes all two-bedroom homes. Residents of the 11,400-square-foot building are within walking distance of the city’s Washington Square Park and three miles from Hoboken and Jersey Heights, while they have access to nearby national retailers such as Walgreens, FedEx and Wells Fargo.
Marcus & Millichap’s Jonathan Zamora represented the seller and procured the buyer, also a private investor.
“Union City remains a sound investment, being in one of the densest cities of the country with a very tight rental market,” Zamora said. “This deal became highly attractive to our purchaser due to the current cashflow and attractive financing we facilitated with the seller.
“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.”
