Two-Family Residential Income
23 East Street South River, NJ 08882
23 East Street, South River, NJ, 08882
$615,000
For Sale
Under Contract
$615,000
MULTI_FAMILY - South River, NJ
Property Size1,744 SF
Lot Size0.07 Acres
Price / SF$352.64
Days on Market51
Property Features for 23 East Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bathroom 1, Basement
- Parking features
- On Street
- Patio and Porch features
- Patio, Porch
- Interior features
- Unit 1(3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(3 Bedrooms, Kitchen, 1 Bath, Living Room)
- Exterior features
- Barbecue, Patio, Porch(es) - Enclosed, Sidewalk, Fencing/Wall, Storage Shed, Yard, Semi-Private Entry, Porch, Private Entrance
- Fencing
- Fenced
- Appliances
- Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
- Standard status
- Active Under Contract
- APN
- 2300284000000006
- Size
- 1,744 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6707
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Building materials
- Vinyl Siding
- Roof type
- Asphalt
- Additional Structures
- Storage
Listing agency
PETRA BEST REALTY LLC
(732) 442-1400
Listed by
Maryemma Terron
(732) 442-1400
Added: Jun 1 Updated: Jul 7 at 3:34PM Checked: Jul 21 at 12:06PM
MLS# 2616757R
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 updated two-family residential property includes two separate units, each with three bedrooms, one full bathroom, a living room, and an eat-in kitchen. The home also features a partially finished basement and a large attic for additional storage, along with a backyard.
Located in South River, New Jersey, the property is described as conveniently near Routes 18 and 1, the NJ Turnpike, and the Garden State Parkway, with easy access to NJ Transit. The remarks also note proximity to Rutgers University, Robert Wood Johnson University Hospital, Saint Peter's University Hospital, shopping, restaurants, parks, and schools.
The first-floor unit is planned to be delivered vacant, creating a practical setup for an owner-occupant seeking rental income or for an investor looking for an immediate path to occupancy. With both units laid out similarly and updated interiors, the property supports a straightforward living-and-leasing arrangement or rental-focused ownership strategy.
Located in South River, New Jersey, the property is described as conveniently near Routes 18 and 1, the NJ Turnpike, and the Garden State Parkway, with easy access to NJ Transit. The remarks also note proximity to Rutgers University, Robert Wood Johnson University Hospital, Saint Peter's University Hospital, shopping, restaurants, parks, and schools.
The first-floor unit is planned to be delivered vacant, creating a practical setup for an owner-occupant seeking rental income or for an investor looking for an immediate path to occupancy. With both units laid out similarly and updated interiors, the property supports a straightforward living-and-leasing arrangement or rental-focused ownership strategy.
Key Highlights
- Two‑family home built in 1910 with two units, each offering 3 bedrooms, 1 full bathroom, living room, and eat‑in kitchen.
- First‑floor unit will be delivered vacant, allowing flexible owner‑occupant or immediate rental use.
- Partially finished basement plus large attic space for storage, with basement and 3 full bathrooms listed in the rooms.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.6k | $25.56 |
| − Vacancy | −$2.9k | −$1.65 |
| EGI | $41.7k | $23.91 |
| − OpEx | −$12.5k | −$7.17 |
| NOI | $29.2k | $16.74 |
1,744 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$417.0K
$364.9K – $486.5K
NOI $29,188 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$383.1K
$335.2K – $447.0K
NOI $26,819 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$455.4K
$398.5K – $531.3K
NOI $31,878 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Updated two-family home with two 3-bedroom units, offering flexibility for owner-occupants or investors.
Where is this duplex located?
The property is located at 23 East Street South River, NJ.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Two‑family home built in 1910 with two units, each offering 3 bedrooms, 1 full bathroom, living room, and eat‑in kitchen.; First‑floor unit will be delivered vacant, allowing flexible owner‑occupant or immediate rental use.; Partially finished basement plus large attic space for storage, with basement and 3 full bathrooms listed in the rooms.
