Well-Maintained Two-Unit Multifamily
525 S 3rd Avenue Highland Park, NJ 08904
525 S 3rd Avenue, Highland Park, NJ, 08904
$729,000
For Sale
Under Contract
$729,000
MULTI_FAMILY - Highland Park, NJ
Property Size1,848 SF
Lot Size0.11 Acres
Price / SF$394.48
Days on Market48
Property Features for 525 S 3rd Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RA
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 3, Basement, Bathroom 2, Bedroom 2, Bedroom 4, Dining Room, Bedroom 1, Bathroom 1
- Window features
- Insulated Windows
- Patio and Porch features
- Porch
- Interior features
- Unit 1(1 Bath, 3 Bedrooms, Dining Room, Kitchen, Living Room), Unit 2(1 Bath, 3 Bedrooms, Dining Room, Kitchen, Living Room)
- Exterior features
- Fencing/Wall, Porch(es) - Enclosed, Sidewalk, Storage Shed, Windows - Insulated Pane, Yard
- Fencing
- Fenced
- Appliances
- Water Heater(Gas), Water Heater, Unit 2(Range/Oven, Refrigerator)
- Standard status
- Active Under Contract
- APN
- 0702706000000005
- Size
- 1,848 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 13691
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Building materials
- Metal Siding
- Roof type
- Asphalt
- Additional Structures
- Storage
Listing agency
RE/MAX FIRST REALTY, INC.
(732) 257-3500
Listed by
Orlando Galindez · License #8339366
(732) 257-3500
Added: Jun 4 Updated: Jun 24 at 12:17AM Checked: Jul 21 at 6:06PM
MLS# 2662163M
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 well-maintained two-unit multifamily property includes a first-floor unit and a second-floor unit, each featuring three bedrooms and living/dining areas. The first-floor layout offers a living room, dining room, eat-in kitchen, an additional room, and a partially finished basement with a rec room and an extra bath. The second-floor unit includes a living room, dining area, eat-in kitchen, and a small back porch. Off-street parking and a yard provide practical outdoor space.
The property is located in Highland Park, NJ, close to Donaldson Park. Public remarks note nearby tennis courts and a playground, with steps close to the park for outdoor activities. Access is described as easy to Route 1, Route 27, the New Jersey Turnpike, and Route 287, with minutes to New Brunswick and Rutgers University. The area is also served by a train station and NYC buses, supporting commuter connectivity.
From a tenant or owner-operator standpoint, the duplex-style configuration provides two separate three-bedroom residences within one property. Recent capital items reported include water heaters installed approximately three years ago and furnaces estimated to be about 10 years old, supporting day-to-day reliability for occupants. The basement rec space and additional bath in the first-floor unit add functional living area for the right household.
The property is located in Highland Park, NJ, close to Donaldson Park. Public remarks note nearby tennis courts and a playground, with steps close to the park for outdoor activities. Access is described as easy to Route 1, Route 27, the New Jersey Turnpike, and Route 287, with minutes to New Brunswick and Rutgers University. The area is also served by a train station and NYC buses, supporting commuter connectivity.
From a tenant or owner-operator standpoint, the duplex-style configuration provides two separate three-bedroom residences within one property. Recent capital items reported include water heaters installed approximately three years ago and furnaces estimated to be about 10 years old, supporting day-to-day reliability for occupants. The basement rec space and additional bath in the first-floor unit add functional living area for the right household.
Key Highlights
- Two‑unit multifamily built in 1920, each unit with 3 bedrooms and 1 bath
- Metal siding exterior with asphalt roof; insulated‑pane windows
- Partially finished basement with rec room and an extra bath (per public remarks)
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 | $47.2k | $25.56 |
| − Vacancy | −$3.1k | −$1.65 |
| EGI | $44.2k | $23.91 |
| − OpEx | −$13.3k | −$7.17 |
| NOI | $30.9k | $16.74 |
1,848 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$441.8K
$386.6K – $515.5K
NOI $30,928 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$406.0K
$355.2K – $473.7K
NOI $28,419 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$482.5K
$422.2K – $563.0K
NOI $33,778 @ 7.0% cap · market cap 4.63%
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 - Two residential units with off-street parking and outdoor yard space near Donaldson Park for long-term income or owner occupancy.
Where is this duplex located?
The property is located at 525 S 3rd Avenue Highland Park, NJ.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Two‑unit multifamily built in 1920, each unit with 3 bedrooms and 1 bath; Metal siding exterior with asphalt roof; insulated‑pane windows; Partially finished basement with rec room and an extra bath (per public remarks)
