71 Erie Street, Elizabeth, NJ 07206
MULTI_FAMILY - Elizabeth, NJ
- Added:
- Jul 31, 2025
- Days on Market:
- 342
- Last Refresh:
- Jul 7 at 2:06 am
Property Features for 71 Erie Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- C-1
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Basement, Bedroom 1, Bedroom 5, Dining Room, Bathroom 1, Bathroom 2, Bedroom 6, Bedroom 4, Bedroom 3, Bedroom 2
- Parking features
- Carport
- 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
- Sidewalk
- Appliances
- Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
- Standard status
- Active
- APN
- 0400738000000022
- Size
- 2,314 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 8571
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Building materials
- Vinyl Siding
- Roof type
- Asphalt
Listing agent Cynthia Kilker License #1542275 (732) 549-1998
Listing office KELLER WILLIAMS ELITE REALTORS 481 MEMORIAL PARKWAY, Metuchen, NJ (732) 549-1998
Listing date Jul 31, 2025
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.
HighLights
- 2‑unit property with identical layouts: each unit has 3 bedrooms, 1 bathroom, living room, dining room, and kitchen
- Stainless steel kitchen appliances included for both units (range/oven and refrigerator)
- Renovated bathrooms and updated flooring reported in both units
- Detached 1‑car garage plus carport parking
- Utilities: public water and public sewer; forced‑air heating
- 1900 build with vinyl siding and an asphalt roof
Overview
The building is situated on a corner lot in Elizabeth, New Jersey, in Union County. The C-1 zoning designation supports continued residential income use for the property as presented. The public remarks note the home is close to shopping centers, schools, places of worship, and major highways, supporting daily convenience for residents.
With matching unit configurations, the property may be well-suited for an owner-occupant seeking rental income from an adjacent unit while maintaining a consistent layout. Both units are described as having been updated, and interior photographs were taken a few years ago per the seller. If needed, the seller will deliver the property vacant, which can help simplify timing for a new owner and future tenant readiness.
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 | $66.6k | $28.80 |
| − Vacancy | −$3.7k | −$1.58 |
| EGI | $63.0k | $27.22 |
| − OpEx | −$18.9k | −$8.16 |
| NOI | $44.1k | $19.05 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Elizabeth
- County
- Union
- State
- New Jersey
- Longitude
- -74.1973724
- Latitude
- 40.6486213
