419-425 Elizabeth Ave - Apartments FOR SALE


Elizabethport, NJ 07206
$2,436,000 USD
732-312-2200
419-425 Elizabeth Ave, Elizabethport, NJ for Sale
$2,436,000 USD
Apartments - FOR SALE
1/1
null | 8% Cap Rate

419-425 Elizabeth Ave
Elizabethport, NJ 07206


OVERVIEW

16 RENTAL UNITS | 14,684SF | 0.225±AC | 3 BUILDINGS Corcoran Sawyer Smith is pleased to present 419-423-425 Elizabeth Avenue, a rare three-building mixed-use investment assembled on a single 9,801± SF tax lot along one of Elizabeth port's primary commercial corridors. The offering totals 14,684± SF of gross building area across eight commercial units and eight residential apartments, delivering a diversified, fully-occupied rent roll with immediate, stabilized income. 419 Elizabeth Avenue is a retail building with three storefronts and a studio apartment. 423 Elizabeth Avenue is a two-story, five-unit apartment building set at the rear of the site. 425 Elizabeth Avenue is a mixed-use building with five commercial suites — including a long-term church tenant on the second floor — plus two rear apartments. Elizabeth Avenue is a heavily trafficked feeder road to the Union County central business district, lined with dense mixed-use retail and steps from the elevated NJ Turnpike. An ideal opportunity for a local or regional investor seeking a diversified, income-producing asset with multiple tenants, functional redundancy, and long-term upside in a supply-constrained, transit-connected North Jersey submarket.

FOR SALE DETAILS

PRICE

$2,436,000 USD

PRICE/SF

$166 USD /SF

# OF UNITS

10

PRICE/UNIT

$243,600

CAP RATE

8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

R2

APN/PARCEL ID

04-00005-0000-00278

ASK ABOUT THIS PROPERTY

Arthur MaglioThe Corcoran GroupMore Info
732-312-2200

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Arthur MaglioThe Corcoran GroupMore Info
732-312-2200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.