Updated Four-Unit
For Sale
$999,999
120 S Broadway, South Amboy, NJ 08879
Multi-Family, 3-Three Story, South Amboy City, NJ
Property Size3,386 SF
Lot Size0.06 Acres
Price / SF$295.33
Days on Market100
Property Features for 120 S Broadway
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bathroom 5, Basement, Bedroom 7, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 5
Interior features
Carbon Monoxide Detector, Walk-In Closet
Exterior features
Wood Fence
Fencing
Wood
Subdivision
South Amboy
Directions
Main st. to N. Broadway turns to S. Broadway
Standard status
Active
Size
3,386 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8432
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
3
Number of units
4
Roof type
Flat, Shingle
Architectural style
Other
Listing Agency:
HALO REALTY PROPERTIES LLC
(848) 229-1810
Listed By:
KLAUDIA PIOTROWICZ · License #1648941
(732) 910-4707
Added: May 27
Changed: Sep 3
Last Checked: Sep 3 at 7:06AM
MLS# 4030164
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 legal four-family property contains 3,386 square feet across four apartments: two three-bedroom units, one one-bedroom apartment, and one studio. Three units have been recently updated. Interior features include walk-in closets and carbon monoxide detectors, while the property is served by public water and public sewer. The building includes a basement, flat and shingle roofing, and a fenced exterior.
The property sits directly across from a train station and bus stop, with the local ferry service also in town. Restaurants, shopping, schools, parks, and houses of worship are located nearby along Broadway and throughout the surrounding area. On-street parking is available at no charge. The 0.06-acre parcel offers a four-unit configuration in a transit-oriented South Amboy setting.
The property sits directly across from a train station and bus stop, with the local ferry service also in town. Restaurants, shopping, schools, parks, and houses of worship are located nearby along Broadway and throughout the surrounding area. On-street parking is available at no charge. The 0.06-acre parcel offers a four-unit configuration in a transit-oriented South Amboy setting.
Key Highlights
- Legal four‑family property with 4 units
- 3,386 square feet on a 0.06‑acre parcel
- Unit mix includes two 3‑bedroom apartments, one 1‑bedroom unit, and one studio
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,669
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,133,380
$1.1M
Cap Rate 7%
$809,557
$809.6K
Cap Rate 9%
$629,656
$629.7K
Market Conditions
NOI Build-Up for 3,386 SF
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.
Gross rent
$86.5K $25.56/SF
− Vacancy
−$5.6K −$1.65/SF
EGI
$81.0K $23.91/SF
− OpEx
−$24.3K −$7.17/SF
NOI
$56.7K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,133,380
Cap Rate 7%
$809,557
Cap Rate 9%
$629,656
Alternative Uses
Best Use
Multifamily LT 5
$809.6K
$708.4K – $944.5K
NOI $56,669 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$743.9K
$650.9K – $867.8K
NOI $52,070 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$884.2K
$773.6K – $1.03M
NOI $61,891 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
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?
Quadplex - Legal four-family property with commuter access, varied unit layouts, and recent improvements to three apartments.
Where is this quadplex located?
The property is located at 120 S Broadway South Amboy, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Legal four‑family property with 4 units; 3,386 square feet on a 0.06‑acre parcel; Unit mix includes two 3‑bedroom apartments, one 1‑bedroom unit, and one studio
