540 Jackson Ave, Elizabeth, NJ 07201

5 Unit Apartment Building | $1,525,000 ($305,000/Unit) | 7.50% Cap Rate | Elizabeth, NJ 07201

Asking Price $1,525,000

Property Type
Multifamily
Square Feet
5,757 SF

Listing Contacts

Robinson Marte
Robinson Marte
  • Property Info

Property Overview

Fully rehabbed 5 unit, mixed use building for sale. 1st floor consist of a well established Grocery Store / Take Out restaurant, with 4 separate 3 bedroom / 1 bathroom apartments. All of the apartments and the hallways have been fully gutted out and remodeled between 2021 - 2023. Each apartment is approximately 950 sq ft and tenants have on site laundry, 24/7 surveillance and a backyard area for leisure. The property also has a detached 4 car garage with additional space for 2 vehicles ( total parking for 10 vehicles).

Property Details

Class
C
Year Built/Renovated
1925/2021
Stories
3
Property Subtype
Storefront Retail/Residential
Lot Size (sq. ft)
4,792 SF
Units
5

Highlights

  • Close proximity to Newark Airport increases the potential return if converted to Airbnb, etc...
  • Commercial unit is on last 6 years of extremely low lease. Market rent for this location is between $4500 - $7500.
  • Turnkey & 100% occupied. No additional work needed!

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