Renovated
For Sale
$899,900
Pending
33-35 Delaware St, Elizabeth, NJ 07206
Multi-Family, Fourplex, Elizabeth City, NJ
Property Size3,488 SF
Lot Size0.09 Acres
Days on Market58
Property Features for 33-35 Delaware St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Basement, Bathroom 3, Bathroom 1, Bedroom 7, Bedroom 5, Bedroom 8, Bathroom 4
Directions
Continue on Bayway. Take 3rd Ave to Delaware St
Standard status
Pending
Size
3,488 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7684
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1900
Number of units
4
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS VILLAGE SQUARE · Keller Williams Realty
(201) 445-4300
Listed By:
HIPOLITO TOURON · License #2191603
(201) 726-3933
Added: Aug 10
Changed: Sep 23
Last Checked: Oct 6 at 10:06AM
MLS# 4045887
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.
Investment Insights
Based on property information with market context.
This renovated fourplex contains 3,488 square feet across four legal residential units. Each apartment offers two bedrooms and one bathroom, creating a consistent four-unit configuration. The property includes a basement, baseboard and electric heating, a shingle roof, and updated interiors throughout. Three units are vacant, while the fourth is occupied, allowing the next owner to place tenants in the available apartments.
The 0.09-acre property is served by public water and public sewer. Built in 1900, it is positioned near transportation, shopping, dining, and everyday amenities in Elizabeth City, New Jersey.
The 0.09-acre property is served by public water and public sewer. Built in 1900, it is positioned near transportation, shopping, dining, and everyday amenities in Elizabeth City, New Jersey.
Key Highlights
- Four legal units, each with 2 bedrooms and 1 bathroom
- 3,488 square feet on a 0.09‑acre lot
- Fully renovated interiors throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,451
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,329,020
$1.3M
Cap Rate 7%
$949,300
$949.3K
Cap Rate 9%
$738,344
$738.3K
Market Conditions
NOI Build-Up for 3,488 SF
Gross rent
$100.5K $28.80/SF
− Vacancy
−$5.5K −$1.58/SF
EGI
$94.9K $27.22/SF
− OpEx
−$28.5K −$8.16/SF
NOI
$66.5K $19.05/SF
Area
Elizabeth, NJ
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,329,020
Cap Rate 7%
$949,300
Cap Rate 9%
$738,344
Alternative Uses
Best Use
Multifamily LT 5
$949.3K
$830.6K – $1.11M
NOI $66,451 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$845.3K
$739.7K – $986.2K
NOI $59,173 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,436 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 07206, NJ
30,982
Population
9,712
Households
3.2
Avg Household Size
31
Median Age
8%
College-Educated
64%
High-School Grad
1.8 sq mi
ZIP Area
17,212
Density / Sq Mi
$60,992
Median Household Income
$38,541
Median Earnings
$1,543
Median Rent
$339,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four legal apartments feature updated interiors, with multiple units available for occupancy.
Where is this quadplex located?
The property is located at 33-35 Delaware St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Four legal units, each with 2 bedrooms and 1 bathroom; 3,488 square feet on a 0.09‑acre lot; Fully renovated interiors throughout the property
