Four-Unit Quadplex with Finished
New
For Sale
$995,000
668 Clarkson Ave, Elizabeth, NJ 07202
Multi-Family, 2-Two Story, Elizabeth City, NJ
Property Size3,946 SF
Lot Size0.08 Acres
Price / SF$252.15
Days on Market1
Property Features for 668 Clarkson Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 8, Bedroom 6, Bedroom 3, Bathroom 4, Bathroom 2, Basement, Bedroom 7, Bathroom 1, Bedroom 1
Parking
3
Directions
Bayway to Clarkson
Standard status
Active
Size
3,946 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12884
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Number of units
4
Roof type
Composition
Architectural style
Other
Listing Agency:
GROUP TWENTY SIX LLC
Listed By:
RICHARD CAPAC
(201) 969-2626
Added: Sep 7
Last Checked: Sep 7 at 9:06PM
MLS# 4050902
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.
Investment Insights
Based on property information with market context.
This residential quadplex contains four units within 3,946 square feet. Each apartment includes two bedrooms, one full bathroom, a living room, and an eat-in kitchen, creating a consistent layout across the property. The building also features a finished attic and a walk-in basement separated into two sections for additional usable space and storage. Car parking is included, and the property has a composition roof with public water and public sewer service.
Built in 1925 and zoned Residential, the property is located in Elizabeth, New Jersey. The Bayway section setting provides access to major highways, public transportation, shopping, dining, and everyday amenities. The 0.08-acre parcel supports a compact multifamily configuration with established improvements and multiple areas beyond the individual units.
Built in 1925 and zoned Residential, the property is located in Elizabeth, New Jersey. The Bayway section setting provides access to major highways, public transportation, shopping, dining, and everyday amenities. The 0.08-acre parcel supports a compact multifamily configuration with established improvements and multiple areas beyond the individual units.
Key Highlights
- Four‑unit quadplex with 3,946 square feet
- Each unit includes 2 bedrooms, 1 full bathroom, living room, and eat‑in kitchen
- Finished attic provides additional usable space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,176
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,503,520
$1.5M
Cap Rate 7%
$1,073,943
$1.1M
Cap Rate 9%
$835,289
$835.3K
Market Conditions
NOI Build-Up for 3,946 SF
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.
Gross rent
$113.6K $28.80/SF
− Vacancy
−$6.3K −$1.58/SF
EGI
$107.4K $27.22/SF
− OpEx
−$32.2K −$8.16/SF
NOI
$75.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,503,520
Cap Rate 7%
$1,073,943
Cap Rate 9%
$835,289
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$939.7K – $1.25M
NOI $75,176 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$956.3K
$836.8K – $1.12M
NOI $66,942 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,311 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Explore this area
Business Placement
Demographics for 07202, NJ
43,389
Population
15,866
Households
2.7
Avg Household Size
36
Median Age
13%
College-Educated
76%
High-School Grad
2.3 sq mi
ZIP Area
18,865
Density / Sq Mi
$68,071
Median Household Income
$40,505
Median Earnings
$1,508
Median Rent
$358,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer matching two-bedroom layouts, one full bathroom, and eat-in kitchens.
Where is this quadplex located?
The property is located at 668 Clarkson Ave Elizabeth, NJ.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,946 square feet; Each unit includes 2 bedrooms, 1 full bathroom, living room, and eat‑in kitchen; Finished attic provides additional usable space
