The Lenox 12 condos | Local d’activités | À vendre | 2 045 777 € | Union City, NJ

The Lenox – 500 Central Ave | Union City, NJ
12-Unit Investment Portfolio | Stabilized | Value-Add Opportunity
Rare opportunity to acquire a 12-unit residential portfolio within The Lenox, a full-service amenity building located at 500 Central Avenue in Union City, directly bordering Jersey City.
This offering consists of twelve (12) tenant-occupied residential units, providing immediate in-place cash flow with long-term upside potential.
Investment Highlights
12 Residential Units (Bulk Sale)
All Units Occupied – Stabilized income from day one
Priced Below Market – Attractive basis relative to comparable sales
Unrenovated Condition – Significant value-add potential through interior upgrades
Rent-Controlled – Subject to Union City rent control regulations
Full-Service Amenity Building
Prime Urban Location – Steps from Jersey City border with strong commuter access to NYC
Property Overview
The Lenox is a well-established residential building known for its full-service living experience, offering amenities typically sought after by renters in this market. The property benefits from its proximity to major transportation corridors, shopping, dining, and employment hubs throughout Hudson County.
All units are in original condition and priced below current market levels, offering investors a compelling opportunity to acquire at a discounted basis with the ability to unlock value through renovations and operational improvements over time, within rent control guidelines. Five units of the original 17 unit portfolio have been sold. Owner would consider selling the portfolio in increments of 5 units to one buyer.
Location Highlights
Situated on Central Avenue, a major retail and transit corridor
Minutes to Jersey City Heights and Hoboken markets
Easy access to NYC via bus, PATH, and major roadways
Strong rental demand driven by proximity to Manhattan
Investment Considerations:
This is an ideal acquisition for investors seeking:
Below-market entry pricing in a high-demand submarket
Stable, income-producing assets with upside potential
Long-term hold with incremental rent growth