$10,000 Closing Credit¹
#3963329, Listing office: FORMULA REALTY LLC
$874,000 List price
505 5th St Union City, NJ 07087
$10,000
Closing credit¹
11 beds
4 full
0.06 acres
Multi-Family
Property details
About 505 5th St
Discover a prime investment opportunity in the heart of Union City! This newly renovated 4-family property has updated amenities, ensuring a steady and reliable rental income. Property highlights include updated kitchens and bathrooms in all units, providing a fresh and contemporary living space. All units are currently rented, guaranteeing immediate income for the new owner. Split utilities, so tenants are responsible for their own utilities, reducing overhead costs for the landlord. Two apartments are large spacious 3 bedrooms, 1-bathroom units, the other two apartments are 2 bedrooms, 1 bathroom. This property is perfect for investors looking to expand their portfolio with a low-maintenance, high-return assets.
Highlights
Home typeMulti Family
HeatingNatural Gas
StatusActive
BasementYes
Lot size0.06 Acres
Year built1900
ParkingOn-Street Parking
MLS #3942318
Summary
- Full Bathrooms: 4
- Appliances: Refrigerator
- Basement: Yes
- Total Bedroom Count: 11
- Parking: On-Street Parking
- Architectural Style: 3-Three Story
- Heating: Natural Gas
- Cooling: None
- List Price: $874,000
- Annual Tax Amount: $16,160
- Tax Year: 2024
- Directions: 505 5th Street, Union City, NJ 07087
- Year Built: 1900
- Lot Size: 0.06 Acres
- MLS Number: 3942318
- Office Name: RE/MAX CENTRAL
- Office Phone: (732) 972-1000
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Last updated on: 6/18/2025, 1:58:36 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$874,000
505 5th St
$10,000
closing credit¹
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0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Apr 17, 2019 | Home Sold | $665,000 |
| Feb 06, 2019 | Home Sold | $510,000 |
| Feb 13, 2003 | Home Sold | $257,800 |
| Nov 17, 1999 | Home Sold | $250,000 |
| Mar 21, 1997 | Home Sold | $148,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $851,100 | $16,160 |
| 2022 | $210,200 | $15,523 |
| 2021 | $210,200 | $15,523 |
History based on county public records data.
Nearby schools
6
Thomas a Edison Elementary School
Public District PK-6
0.1 mi
•507 West St
6
Veterans' Memorial Elementary School
Public District PK-5
0.5 mi
•1401 Central Ave
6
Colin Powell Elementary School
Public District KG-5
0.5 mi
•1500 New York Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $25,303. The majority of Union City, NJ residents have income less than $<35k annually. Typical family type is single, no kids. Residents of this area typically have high school diploma education.
How much money do the neighbors make?
67%
<35k
21%
35k-100k
7%
100k-200k
5%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
37%
Single, No Kids
23%
Single, with Kids
18%
Married, No Kids
22%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
18%
<11 yrs old
9%
12-17 yrs old
30%
18-34 yrs old
34%
35-64 yrs old
9%
65+ yrs old
What do the neighbors do for fun?
Mexican League Soccer
Major League Soccer (MLS)
Pro Boxing
Where do the neighbors shop?
Foot Locker
H&M
Burlington
Where do the neighbors go to eat?
Little Caesars
Popeyes
Boston Market
What do the neighbors drive?
Dodge
Nissan
Honda
What do the neighbors listen to?
Urban Adult Contemporary
Rhythmic Contemporary Hits
All data provided by Home Junction and Claritas
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Frequently asked questions
About 505 5th St
The listing price of 505 5th St property is $874,000.
The property 505 5th St is a multi located in Union City, New Jersey, 07087.
Active Listing: 505 5th St is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 505 5th St are: Thomas a Edison Elementary School (GreatSchools Rating 6/10), Veterans' Memorial Elementary School (GreatSchools Rating 6/10), Colin Powell Elementary School (GreatSchools Rating 6/10), John F Kennedy Elementary School (GreatSchools Rating 3/10), Alfred E. Zampella School (GreatSchools Rating 6/10), Christa McAuliffe School (GreatSchools Rating 6/10), Hoboken High School (GreatSchools Rating 4/10), Jose Marti STEM Academy (GreatSchools Rating 8/10), Hoboken Charter School (GreatSchools Rating 6/10).
According to the records, the last property tax for 2024 is $16,160 (source: MLS/based on county public records data).
The last sale was on April 17, 2019 for $665,000 (source: MLS/tax record).
The year of construction for 505 5th St is 1900.
This home is located at 505 5th St in Union City, NJ and zip code 07087. Features: 11 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since February 20, 2025 and is currently priced at $874,000.
While more than 6 listings in Union City, NJ in May 2025 were sold above asking price, there were more than 5 listings sold at asking price, and more than 3 were sold below. Between April and May 2025, Union City, NJ real estate market has seen increase in the number of listings by 8.6%. The median list price of listings available in May 2025 was $475,000, while the average time on the real estate market was 33 days.
From Rocket Homes Real Estate and based on county public records data.