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    32 Spencer St Elizabeth, NJ 07202

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    For Sale
    $1,200,000

    Six-family property in Elizabeth, NJ, with strong rental potential.

    Property size:
    9,999 SF

    Property Features for 32 Spencer St

    General Information

    Standard status
    Active
    Size
    9,999 SF

    Building Details

    Year built
    1900

    Source: RE/MAX IN ACTION Agent PEDRO OLIVEIRA

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Elizabeth Multifamily Investment Opportunity

    32 Spencer Street is a six-family property located in Elizabeth, NJ, presenting an investment opportunity. The property is well-maintained and offers rental potential and long-term value. Each unit is designed to maximize space and functionality. A private parking lot adds to the property's desirability. The property is located near transportation, shopping, and local amenities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.2011801
    Latitude
    40.6534268

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    FAQs

    What type of property is this?
    Apartment building - Six-family property in Elizabeth, NJ, with strong rental potential.
    Where is this apartment building located?
    The property is located at 32 Spencer St Elizabeth, NJ.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - Six-family property offering strong rental income potential.; - Private parking lot, a significant convenience in an urban area.; - Ideally located near transportation, shopping, and local amenities.
    Request Owner's contact information
    32 Spencer St Elizabeth, NJ 07202
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    Elizabeth, NJ 07202
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    32 Spencer St Elizabeth, NJ 07202
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