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$850,000
Est. payment /mo
6 Beds
3 Baths
39,996 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 39,996 sqft
Price per Sqft $21
MLS Listing ID 4002432
Style 2-Two Story
Bedrooms 6
Full Baths 2
Half Baths 2
Annual Tax Amount $16,570
Tax Year 2024
Lot Size 3,049 Sqft
Property Description
LOOKING FOR A PROPERTY THAT CHECKS THE "LOCATION VISIBILITY, AND INCOME POTENTIAL" BOXES ALL AT ONCE? THIS MIXED-USE BUILDING ON BUSTLING ELIZABETH AVE IN ELIZABETH, NJ IS EXACTLY THAT. WITH TWO STOREFRONTS ON THE FIRST FLOOR AND TWO APARTMENTS UPSTAIRS, IT'S A FLEXIBLE INVESTMENT THAT PUTS YOU RIGHT IN THE CENTER OF NONSTOP FOOT AND VEHICLE TRAFFIC. YES, THE BUILDING NEED SOME TLC, BUT THE BIG-TICKET ITEMS ARE ALREADY HANDLED NEWER ROOF, NEARLY NEW WATER HEATERS. SEPARATE UTILITIES (WITH THE EXCEPTION OF THE HEAT BETWEEN THE STORES) THAT MEANS YOU CAN FOCUS ON THE UPDATES THAT BOOST VALUE INSTEAD OF THE COSTLY REPAIRS NO ONE LIKES TO TALK ABOUT. ON THE FIRST FLOOR, YOU'LL FIND HIGH-VISIBILITY COMMERCIAL SPACES PERFECT FOR RETAIL, SERVICE BUSINESSES, OR FUTURE TENANTS WITH BIG IDEAS. UPSTAIRS ARE TWO RESIDENTIAL UNITS, BOTH ON MONTH TO MONTH LEASES, GIVING INVESTORS THE FLEXIBILITY TO RAISE RENTS, RENOVATE, OR REPOSITION BASED ON THEIR STRATEGY. IF YOU'RE AN INVESTOR LOOKING FOR A PROPERTY WITH STRONG UPSIDE, GREAT EXPOSURE, AND BUILT-IN INCOME FROM DAY ONE-THIS IS THE OPPORTUNITY. REPAIRS DONE BTW 2022-2024 HEATING, WATER HEATERS, ROOFS, ELECTRICAL CIRCUITS, AND OTHER COSMETICS REPAIRS.
Location
State NJ
County Union
Rooms
Basement Unfinished, Walkout
Interior
Heating See Remarks
Cooling Window A/C(s)
Heat Source See Remarks
Exterior
Exterior Feature Brick
Utilities Available See Remarks
Roof Type Flat
Building
Sewer Public Sewer
Water Public Water
Architectural Style 2-Two Story
Others
Senior Community No
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Listed by RE/MAX NEW MILLENNIUM GROUP
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