Four-Unit Residential Income
For Sale
$999,999
120 S Broadway, South Amboy, NJ 08879
Four-family property with two 3-bedroom units, a 1-bedroom unit, and a studio, with three recently updated units.
Property Size3,386 SF
Price / SF$295.33
Days on Market190
Property Features for 120 S Broadway
General Information
Standard status
Active
Size
3,386 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Building Details
Tenancy
Multi
Listing Agency:
Halo Realty
Listed By:
Klaudia Piotrowicz
(833) 740-1234
Source:
Actionplusrealty
Added: Mar 3
Changed: Sep 8
Last Checked: Sep 8 at 7:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Halo Realty
Investment Insights
Based on property information with market context.
This four-unit residential income property includes two 3-bedroom apartments, one 1-bedroom unit, and one studio. Three of the four units have been recently updated, providing upgraded interiors across most of the building. On-street parking is available for residents.
The property is located in South Amboy on a central street and is directly across from a train station and bus stop. The area also includes the NYC ferry within town, supporting a range of transportation options.
The current configuration offers a mix of larger family-style layouts alongside smaller studio and 1-bedroom living spaces, making it practical for a variety of household needs.
The property is located in South Amboy on a central street and is directly across from a train station and bus stop. The area also includes the NYC ferry within town, supporting a range of transportation options.
The current configuration offers a mix of larger family-style layouts alongside smaller studio and 1-bedroom living spaces, making it practical for a variety of household needs.
Key Highlights
- Four‑family investment property with four units: two 3‑bedroom units, one 1‑bedroom unit, and one studio
- Three of the four units have been recently updated
- Located in South Amboy directly across from the train station and bus stop
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
Multi-tenant
Tenancy
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 - Four-family property with two 3-bedroom units, a 1-bedroom unit, and a studio, with three recently updated units.
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: Four‑family investment property with four units: two 3‑bedroom units, one 1‑bedroom unit, and one studio; Three of the four units have been recently updated; Located in South Amboy directly across from the train station and bus stop
