3-Unit Triplex with Detached
474 Walnut St, Elizabeth, NJ 07201
For Sale
New
$625,000
Multi-Family, 3-Three Story, Elizabeth City, NJ
Property Size2,300 SF
Lot Size0.10 Acres
Price / SF$271.74
Days on Market3
Property Features for 474 Walnut St
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Interior features
Exterior features
Fencing
Subdivision
Lot features
High school
Directions
Standard status
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Water source
Building Details
Year built
Floors in Building
Number of units
Roof type
Architectural style
Listing Agency:
EXP REALTY, LLC
Listed By:
ETHAN GORELICK
(866) 201-6210
Added: Nov 11
Last Checked: Nov 13 at 11:06PM
MLS# 4064075
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-unit residential property contains 2,300 square feet on a 0.1-acre lot and was built in 1900. Separate utilities serve each unit. The third-floor studio has undergone recent updates, while the basement has its own exterior entrance and offers storage space. A detached two-car garage is also part of the property.
The property is at 474 Walnut St in Elizabeth, New Jersey. NJ Transit, major highways, shopping, dining, and local services are identified as nearby in the surrounding area.
The property is at 474 Walnut St in Elizabeth, New Jersey. NJ Transit, major highways, shopping, dining, and local services are identified as nearby in the surrounding area.
Key Highlights
- Three‑family property with separate utilities for all three units
- 2,300 square feet on a 0.1‑acre lot
- Updated studio apartment on the third floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,818
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$876,360
$876.4K
Cap Rate 7%
$625,971
$626.0K
Cap Rate 9%
$486,867
$486.9K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$66.2K $28.80/SF
− Vacancy
−$3.6K −$1.58/SF
EGI
$62.6K $27.22/SF
− OpEx
−$18.8K −$8.16/SF
NOI
$43.8K $19.05/SF
Area
Elizabeth, NJ
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$876,360
Cap Rate 7%
$625,971
Cap Rate 9%
$486,867
Alternative Uses
Best Use
Multifamily LT 5
$626.0K
$547.7K – $730.3K
NOI $43,818 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$557.4K
$487.7K – $650.3K
NOI $39,019 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$851.9K
$745.4K – $993.9K
NOI $59,634 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,748
Businesses Nearby
Explore this area
Business Placement
Demographics for 07201, NJ
29,390
Population
10,404
Households
2.8
Avg Household Size
35
Median Age
15%
College-Educated
75%
High-School Grad
6.4 sq mi
ZIP Area
4,592
Density / Sq Mi
$62,026
Median Household Income
$33,092
Median Earnings
$1,476
Median Rent
$413,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Triplexes in Elizabeth
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Separate utility service serves each residence, and the third-floor studio has been updated.
Where is this triplex located?
The property is located at 474 Walnut St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three‑family property with separate utilities for all three units; 2,300 square feet on a 0.1‑acre lot; Updated studio apartment on the third floor
