410 1St Ave Elizabeth, NJ 07206
- Residential income homes
Current Use by Public Records
- Brandy Dog's Barbershop / Pet Groomer
Property Details for 410 1St Ave
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity presents a turnkey portfolio of 43 properties in Elizabeth, New Jersey, comprising 138 rental units. The portfolio is a diverse mix of single-family homes and multi-family buildings ranging from two to six units each. All properties are well-maintained and have recently undergone capital improvements, ensuring a smooth transition for the new owner. Located in a prime Union County neighborhood, this portfolio offers convenient access to major transportation routes providing a quick commute to New York City (approximately 45 minutes via public transit). The portfolio currently generates a strong income stream, achieving an approximate 10% capitalization rate, with significant potential for further upside through future value appreciation and operational enhancements. The properties are situated close to one another, offering operational efficiencies and management convenience. This is a rare opportunity to acquire a substantial, well-performing multifamily portfolio in a desirable location. Detailed financial information is available upon request. The property is classified as Class B.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elizabeth
- County
- Union
- State
- New Jersey
- Longitude
- -74.1981
- Latitude
- 40.6522
