860 Newark Ave - Apartments FOR SALE


Elizabeth, NJ 07208
$2,585,000 USD
908-230-1599
860 Newark Ave, Elizabeth, NJ for Sale
$2,585,000 USD
Apartments - FOR SALE
1/5
null | 6.51% Cap Rate

860 Newark Ave
Elizabeth, NJ 07208


OVERVIEW

Rose Real Estate is pleased to present a rare opportunity to acquire a fully leased, modern mixed-use property located in the heart of Elizabeth, Union County, New Jersey. Built in 2006, this well-maintained asset comprises six spacious residential apartments and three street-level commercial storefronts, with onsite parking. Each of the residential units features two bedrooms and two bathrooms, with individual forced hot and cold air systems, and separately metered utilities—offering convenience for tenants and efficiency for ownership. The spacious apartments are currently rented below market value, with no current rent control restrictions in place for this building, providing a clear value-add opportunity through strategic lease adjustments. The commercial tenants are established, long-term occupants, contributing to the property’s consistent cash flow. Positioned on a corner in a high- density, high-traffic corridor near nationally recognized retailers, this property offers a compelling blend of stable income and long-term appreciation potential.

FOR SALE DETAILS

PRICE

$2,585,000 USD

PRICE/SF

$134 USD /SF

# OF UNITS

6

PRICE/UNIT

$430,833

CAP RATE

6.51%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2006

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

-

APN/PARCEL ID

04-00011-0000-00284-A

ASK ABOUT THIS PROPERTY

Lauren FedergreenRose Real Estate LLCMore Info
908-230-1599

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Lauren FedergreenRose Real Estate LLCMore Info
908-230-1599

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