Custom-Built Multifamily Near Kean
117-119 Stiles St, Elizabeth, NJ 07208
3-Three Story, Multi-Family - Elizabeth City, NJ
Property size:
3,960 SFLot size:
0.13 Acres- Added:
- Mar 25, 2026
- Days on Market:
- 59
- Last Refresh:
- May 22 at 3:06 am
Property Features for 117-119 Stiles St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 5
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Family Room, Kitchen, Laundry, Living Room, Master Bedroom
- Parking
- 2
- Patio and Porch features
- Patio
- Interior features
- Carbon Monoxide Detector, Smoke Detector, Tile Floors, Wood Floors
- Exterior features
- Patio, Fencpriv, Seerem, Fencvnyl
- Fencing
- Fenced
- Appliances
- Dishwasher, Microwave, Oven - Gas, Range, Washer
- Standard status
- Pending
- Size
- 3,960 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 18153
Utilities
- Heating system
- Forced Air
- Cooling system
- Multi Units
Building Details
- Year built
- 2013
- Number of units
- 2
- Building materials
- Brick, Vinyl Siding
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent DULCE RUIVO (201) 993-0683
Listing office RE/MAX HERITAGE PROPERTIES 294 MAIN STREET, Flanders, NJ (908) 500-8700
Listing date Mar 25, 2026
MLS# 4016603
Listing URL
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Custom‑built multifamily home with nearly 2,000 sq ft per unit, offering significant living space.
- First‑floor unit is a duplex with the ground level, featuring 5 bedrooms and 3 full bathrooms, including a primary suite with a double‑sink vanity.
- Finished ground level connected to the first floor includes a recreation room, full bathroom, office, and bonus room.
- Second‑floor unit offers 4 bedrooms and 2 full bathrooms with a similar layout to the first floor.
- Large double lot with a paved backyard enclosed by a privacy fence, ideal for outdoor entertaining.
- Convenient location near Kean University, NYC transportation, major highways, and shopping.
Overview
This custom-built multifamily property is located in the Elmora/Kean University area of Elizabeth City, NJ. The property features nearly 2,000 square feet per unit, plus a fully finished ground level connected to the first floor. The first-floor unit is designed as a duplex with the ground level, offering 5 bedrooms and 3 full bathrooms. It includes an expansive living room, a modern kitchen with granite countertops and a peninsula, and an open-concept dining area. The primary suite features a double-sink vanity bath. There is direct access to the ground level, which includes a recreation room, full bathroom, office, and bonus room. The second-floor unit offers 4 bedrooms and 2 full bathrooms, with a spacious living room and dining room, and a kitchen with granite countertops. The property is situated on a 0.13-acre double lot enclosed by a privacy fence and features a paved backyard. Additional features include hardwood floors throughout, central A/C and heating, and a laundry room in each unit. The property is conveniently located near Kean University, NYC train and bus transportation, major highways, and shopping, making it suitable for both homeowners and investors.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$838.3K
NOI $75,443 @ 9.00% cap · cautious / downside scenario
Moderate
$1.08M
NOI $75,443 @ 7.00% cap · market / base-case scenario
Aggressive
$1.51M
NOI $75,443 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.0k | $28.80 |
| − Vacancy | −$6.3k | −$1.58 |
| EGI | $107.8k | $27.22 |
| − OpEx | −$32.3k | −$8.16 |
| NOI | $75.4k | $19.05 |
3,960 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.08M
$943.0K – $1.26M
NOI $75,443 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$959.7K
$839.8K – $1.12M
NOI $67,180 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,674 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Elizabeth
- County
- Union
- State
- New Jersey
- Longitude
- -74.22514
- Latitude
- 40.67147
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Exceptional multifamily property near Kean University with investment potential.
Where is this duplex located?
The property is located at 117-119 Stiles St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Custom‑built multifamily home with nearly 2,000 sq ft per unit, offering significant living space.; First‑floor unit is a duplex with the ground level, featuring 5 bedrooms and 3 full bathrooms, including a primary suite with a double‑sink vanity.; Finished ground level connected to the first floor includes a recreation room, full bathroom, office, and bonus room.
