Multifamily Residential Income
For Sale
Under Contract
$765,000
228 David Street, South Amboy, NJ 08879
MULTI_FAMILY - South Amboy, NJ
Property Size3,020 SF
Price / SF$253.31
Days on Market220
Property Features for 228 David Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
779
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement, Dining Room
Parking features
On Street, Garage
Patio and Porch features
Patio, Porch
Interior features
Unit 1(Dining Room, 3 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths), Unit 2(Dining Room, 3 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths)
Exterior features
Patio, Porch(es) - Open, Fencing/Wall, Yard, Porch
Fencing
Fenced
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Subdivision
South Amboy
Lot features
Level
Elementary school district
South Amboy City School Distri
Middle school district
South Amboy City School Distri
High school district
South Amboy City School Distri
Directions
Gps
Standard status
Active Under Contract
APN
200004600000002901
Size
3,020 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
10477
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1914
Floors in Building
2
Building materials
Metal Siding
Roof type
Asphalt
Listing Agency:
J.J. ELEK REALTY CO.
(732) 634-9100
Listed By:
Joseph Devizio · License #0568876
(732) 596-2118
Added: Dec 23, 2025
Changed: Jul 28
Last Checked: Jul 31 at 1:06AM
MLS# 2608766R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily residential income property is configured with an attic designated for storage only. The listing size is 3,020 square feet.
The property is located at 228 David Street in South Amboy, New Jersey 08879, in Middlesex County. Zoning is listed as 779 in the provided materials.
The property is located at 228 David Street in South Amboy, New Jersey 08879, in Middlesex County. Zoning is listed as 779 in the provided materials.
Key Highlights
- 2 units, each with 3 bedrooms, dining room, kitchen, living room, and 2+ baths
- Forced‑air heating with central air and ceiling fans
- Public water and public sewer
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.6k | $30.00 |
| − Vacancy | −$6.2k | −$2.04 |
| EGI | $84.4k | $27.96 |
| − OpEx | −$38.0k | −$12.58 |
| NOI | $46.4k | $15.38 |
3,020 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$663.5K
$580.5K – $774.0K
NOI $46,442 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$788.6K
$690.0K – $920.0K
NOI $55,201 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
Explore this area
Business Placement
Demographics for 08879, NJ
22,965
Population
9,737
Households
2.4
Avg Household Size
42
Median Age
32%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
3,235
Density / Sq Mi
$98,000
Median Household Income
$57,998
Median Earnings
$1,633
Median Rent
$377,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property with an attic space designated for storage only.
Where is this multifamily property located?
The property is located at 228 David Street South Amboy, NJ.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: 2 units, each with 3 bedrooms, dining room, kitchen, living room, and 2+ baths; Forced‑air heating with central air and ceiling fans; Public water and public sewer
