Three-Unit Residential Income
For Sale
$679,000
640 Elizabeth Street, Perth Amboy, NJ 08861
Three-unit multifamily home with two-bedroom layouts in each unit and a separate-entrance attic area.
Property Size2,141 SF
Price / SF$317.14
Days on Market122
Property Features for 640 Elizabeth Street
General Information
Standard status
Active
Size
2,141 SF
Property subtype
Multi-family
Additional Details
Business Included
No
Multifamily Units
3
Building Details
Year Built
1909
Listing Agency:
PETRA BEST REALTY LLC
Listed By:
ELVIS COLLADO
(973) 951-1697
Source:
Actionplusrealty
Added: Jul 4
Changed: Nov 1
Last Checked: Nov 1 at 6:37AM
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 PETRA BEST REALTY LLC
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Investment Insights
Based on property information with market context.
This three-unit residential income property features three separate apartments, with each unit offering two bedrooms, one full bathroom, a kitchen, and a living room. The 3rd-floor unit will be delivered vacant at closing and includes two additional rooms in the attic with a separate entrance, providing added flexibility for storage or other use.
The property is located at 640 Elizabeth Street in Perth Amboy, NJ, and is being sold strictly as-is.
For buyers seeking either a live-in setup with rental income or a straightforward multifamily acquisition, this configuration offers consistent unit layouts across the property, along with the attic area tied to the upper unit.
The property is located at 640 Elizabeth Street in Perth Amboy, NJ, and is being sold strictly as-is.
For buyers seeking either a live-in setup with rental income or a straightforward multifamily acquisition, this configuration offers consistent unit layouts across the property, along with the attic area tied to the upper unit.
Key Highlights
- Three‑unit multifamily home built in 1909 in Perth Amboy
- Each apartment offers 2 bedrooms, 1 full bathroom, a kitchen, and a living room
- 3rd‑floor unit will be delivered vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,832
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,640
$716.6K
Cap Rate 7%
$511,886
$511.9K
Cap Rate 9%
$398,133
$398.1K
Market Conditions
NOI Build-Up for 2,141 SF
Gross rent
$54.7K $25.56/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$51.2K $23.91/SF
− OpEx
−$15.4K −$7.17/SF
NOI
$35.8K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,640
Cap Rate 7%
$511,886
Cap Rate 9%
$398,133
Alternative Uses
Best Use
Multifamily LT 5
$511.9K
$447.9K – $597.2K
NOI $35,832 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$470.3K
$411.6K – $548.7K
NOI $32,924 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$559.1K
$489.2K – $652.2K
NOI $39,134 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,059
Businesses Nearby
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Business Placement
Demographics for 08861, NJ
58,039
Population
21,032
Households
2.8
Avg Household Size
35
Median Age
16%
College-Educated
70%
High-School Grad
5.1 sq mi
ZIP Area
11,380
Density / Sq Mi
$60,464
Median Household Income
$34,093
Median Earnings
$1,623
Median Rent
$340,900
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?
Triplex - Three-unit multifamily home with two-bedroom layouts in each unit and a separate-entrance attic area.
Where is this triplex located?
The property is located at 640 Elizabeth Street Perth Amboy, NJ.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Three‑unit multifamily home built in 1909 in Perth Amboy; Each apartment offers 2 bedrooms, 1 full bathroom, a kitchen, and a living room; 3rd‑floor unit will be delivered vacant at closing
