827 Elizabeth Ave Elizabeth, NJ 07201-2708

Property Details for 827 Elizabeth Ave

Year built

1900

Lot size

0.06 lot acres

Property size

3,472 SF

Property type

Commercial real estate

APN

04 00593-0000-00025

APU

400593000000025

Description

This classic, circa 1900, three-unit property presents a compelling investment opportunity in Elizabeth, NJ's vibrant Union Square business district. The building boasts a large street-level storefront currently operating as a convenience store under a month-to-month lease. This space includes a restroom, ample storage, and additional basement storage. Upstairs, two spacious, nearly identical four-bedroom, one-bathroom apartments offer significant rental upside. Each apartment features a kitchen, formal dining room, living room, and four bedrooms. Substantial renovations, completed within the last seven years, include updated ceramic tile and laminate flooring throughout both units. Currently occupied by long-term tenants on month-to-month leases, these apartments are significantly below current market rents, presenting immediate potential for increased income. The property sits on a 0.06-acre lot and features separate gas and electric meters for efficient utility management. The property is being sold in "as-is" condition. This is an exceptional chance to acquire a well-located, income-producing asset with significant potential for future growth and value appreciation in a thriving urban area. The building's historical charm combined with its modern updates makes it an attractive investment for both seasoned and emerging real estate investors. The month-to-month leases offer flexibility and the potential for immediate rent increases. Don't miss this chance to own a piece of Elizabeth's rich history and vibrant future.