Four-Family Residential Income
For Sale
$999,999
120 S Broadway, South Amboy, NJ 08879
MULTI_FAMILY - South Amboy, NJ
Property Size3,386 SF
Lot Size0.06 Acres
Price / SF$295.33
Days on Market95
Property Features for 120 S Broadway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Buyer Should Verify
Rooms
Basement
Parking features
On Street
Interior features
Unit 1(3 Bedrooms, Kitchen, Living Room, 1 1/2 Baths), Unit 2(3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 3(1 Bedroom, Kitchen, 1 Bath, Living Room, See Remarks), Unit 4(1 Bedroom, Kitchen, 1 Bath, Living Room)
Exterior features
Fencing/Wall, Yard
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Appliances
Water Heater(See Remarks), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator), Unit 3(Range/Oven, Refrigerator), Unit 4(Range/Oven, Refrigerator)
Lot features
Near Shopping, Near Train, Interior Lot, Near Public Transit
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
Main st. to N. Broadway which turns in S. Broadway.
Standard status
Active
APN
2000044000000023
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
Heating system
Forced Air, Baseboard, Central
Cooling system
Ceiling Fan(s), Window Unit(s)
Water source
Public
Building Details
Floors in Building
3
Flooring type
Carpet
Building materials
Wood Siding
Roof type
Asphalt, Flat
Additional Structures
See Remarks
Listing Agency:
HALO REALTY
(848) 433-1006
Listed By:
Klaudia Piotrowicz · License #1648941
(732) 910-4707
Added: May 27
Changed: Aug 4
Last Checked: Aug 29 at 3:06AM
MLS# 2616302R
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 four-family residential income property includes four separate units: two three-bedroom apartments, one one-bedroom unit, and one studio apartment. Public remarks indicate that three of the four units have recently been updated, while the remaining unit has not been described as updated. The property is positioned for straightforward ownership of a multi-tenant building with a diversified unit mix.
Located at 120 S Broadway in South Amboy, New Jersey, the property is described as being directly across from a train station and bus stop. The remarks also reference the NYC ferry located in town. The building sits on one of the town’s central streets, with on-street parking available at no charge. Nearby, residents are described as being minutes from local restaurants, shopping, schools, parks, and houses of worship.
For buyers and owner-occupants, this configuration offers flexibility through a blend of studio, one-bedroom, and larger three-bedroom layouts within a legal four-family structure. The combination of commuter-oriented transit access and available on-street parking may support everyday livability for tenants across the unit mix. The recently updated units may be particularly appealing to those seeking a property with at least part of the interior already refreshed.
Located at 120 S Broadway in South Amboy, New Jersey, the property is described as being directly across from a train station and bus stop. The remarks also reference the NYC ferry located in town. The building sits on one of the town’s central streets, with on-street parking available at no charge. Nearby, residents are described as being minutes from local restaurants, shopping, schools, parks, and houses of worship.
For buyers and owner-occupants, this configuration offers flexibility through a blend of studio, one-bedroom, and larger three-bedroom layouts within a legal four-family structure. The combination of commuter-oriented transit access and available on-street parking may support everyday livability for tenants across the unit mix. The recently updated units may be particularly appealing to those seeking a property with at least part of the interior already refreshed.
Key Highlights
- Legal 4‑family with 2 units featuring 3 bedrooms (Unit 1 has 1.5 baths; Unit 2 has 1 bath) plus 2 one‑bedroom units (each 1 bath).
- Three of the four units have been recently updated, according to the seller’s remarks.
- Located in South Amboy directly across from the train station and bus stop; NYC ferry also in town.
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
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-unit property with a mix of studio, one-, and three-bedroom apartments, with updates in three 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: Legal 4‑family with 2 units featuring 3 bedrooms (Unit 1 has 1.5 baths; Unit 2 has 1 bath) plus 2 one‑bedroom units (each 1 bath).; Three of the four units have been recently updated, according to the seller’s remarks.; Located in South Amboy directly across from the train station and bus stop; NYC ferry also in town.
