Four-Unit Quadplex with Recently Updated
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 Market94
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 4, Bedroom 3, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Basement, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 5, Bedroom 5, Bedroom 7
Basement
Full
Subdivision
Shoregate
Elementary school
South Amboy
Middle school
South Amboy
High school
South Amboy High School
Directions
Main st. to N. Broadway to S. Broadway
Standard status
Active
APN
20-00044-0000-00023
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
Baseboard
Building Details
Floors in Building
3
Number of units
4
Flooring type
Tile - Ceramic, Laminate
Listing Agency:
Halo Realty
(848) 229-1810
Listed By:
Klaudia Piotrowicz · License #1648941
(848) 229-1810
Added: May 27
Changed: Aug 7
Last Checked: Aug 28 at 7:06PM
MLS# 22615603
Copyright © 2026 More 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.
Four-unit quadplex at 120 S Broadway in South Amboy, NJ, offering a mix of two 3-bedroom apartments, one 1-bedroom unit, and one studio apartment. The property includes 3,386 SF and sits on a 0.06-acre lot. Three of the four units have been recently updated. Interior finishes include laminate and ceramic tile flooring, and heating is provided by baseboard systems. The building is connected to public sewer, and on-street parking is available for residents.
The location places the property in the heart of South Amboy directly across from the train station and bus stop. The NYC ferry is also located in town, supporting commuter-friendly access. Residents are described as being minutes from local restaurants, shopping, schools, parks, and houses of worship.
This quadplex configuration is suited for tenants seeking a range of unit sizes within a single building while remaining in a highly transit-accessible area.
The location places the property in the heart of South Amboy directly across from the train station and bus stop. The NYC ferry is also located in town, supporting commuter-friendly access. Residents are described as being minutes from local restaurants, shopping, schools, parks, and houses of worship.
This quadplex configuration is suited for tenants seeking a range of unit sizes within a single building while remaining in a highly transit-accessible area.
Key Highlights
- Four‑unit quadplex with two 3‑bedroom apartments, one 1‑bedroom unit, and one studio unit
- Three of four units recently updated
- 3,386 SF on a 0.06‑acre lot
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
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 - Quadplex with four units, including two 3-bedroom apartments, a 1-bedroom, and a studio, plus on-street parking.
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‑unit quadplex with two 3‑bedroom apartments, one 1‑bedroom unit, and one studio unit; Three of four units recently updated; 3,386 SF on a 0.06‑acre lot
