Nine-Unit Multifamily
For Sale
$1,500,000
136 Park Pl, Elizabeth, NJ 07206
Well-maintained 9-unit building with separate utilities and individual boilers, plus ample on-site parking.
Property Size3,750 SF
Lot Size0.17 Acres
Price / SF$400
Days on Market134
Property Features for 136 Park Pl
General Information
Standard status
Active
Size
3,750 SF
Lot size
0.17 Acres
Additional Details
Highway Access
Yes
Multifamily Units
9
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
UNITED REAL ESTATE
Listed By:
ALBERTO DOMENECH · License #1434551
(646) 342-1773
Source:
Goldstandardrealty
Added: Jun 22
Changed: Oct 25
Last Checked: Nov 1 at 8:10AM
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 UNITED REAL ESTATE
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Investment Insights
Based on property information with market context.
This well-maintained multifamily property consists of nine units and is set on an oversized 75' x 100' lot. The building is designed for manageable operations, with separate utilities for each unit and individual boilers serving each residence. Off-street parking on-site supports day-to-day tenant convenience.
The property is located in Elizabeth, with convenience to major highways, public transportation, shopping, and schools. It is also positioned for travel to Newark Liberty International Airport and downtown Elizabeth, helping support accessibility for residents and visitors.
For buyers seeking a sizable residential income asset, this configuration offers the practical advantage of separate utility management at the unit level. The combination of individual boiler systems and on-site parking can simplify building operations compared with arrangements that share mechanical infrastructure. The larger lot size also provides room for buyers to evaluate potential future development or expansion opportunities, subject to due diligence and applicable approvals.
The property is located in Elizabeth, with convenience to major highways, public transportation, shopping, and schools. It is also positioned for travel to Newark Liberty International Airport and downtown Elizabeth, helping support accessibility for residents and visitors.
For buyers seeking a sizable residential income asset, this configuration offers the practical advantage of separate utility management at the unit level. The combination of individual boiler systems and on-site parking can simplify building operations compared with arrangements that share mechanical infrastructure. The larger lot size also provides room for buyers to evaluate potential future development or expansion opportunities, subject to due diligence and applicable approvals.
Key Highlights
- Well‑maintained 9‑unit multifamily building built in 1920
- Oversized 75' x 100' lot with ample on‑site parking
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,617
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,272,340
$1.3M
Cap Rate 7%
$908,814
$908.8K
Cap Rate 9%
$706,856
$706.9K
Market Conditions
NOI Build-Up for 3,750 SF
Gross rent
$121.5K $32.40/SF
− Vacancy
−$5.8K −$1.56/SF
EGI
$115.7K $30.84/SF
− OpEx
−$52.1K −$13.88/SF
NOI
$63.6K $16.96/SF
Area
Elizabeth, NJ
Vacancy
4.80%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,272,340
Cap Rate 7%
$908,814
Cap Rate 9%
$706,856
Alternative Uses
Best Use
Apartment 5plus
$908.8K
$795.2K – $1.06M
NOI $63,617 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,229 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
9
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,223
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 9-unit building with separate utilities and individual boilers, plus ample on-site parking.
Where is this apartment building located?
The property is located at 136 Park Pl Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Well‑maintained 9‑unit multifamily building built in 1920; Oversized 75' x 100' lot with ample on‑site parking; Separate utilities for each unit
