For Sale
$3,099,000

210 Trumbull StElizabeth, NJ 07206

13-Unit Apartment Building, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use investment property, located at 210-214 Trumbull Street in Elizabeth, New Jersey, presents a compelling opportunity for discerning investors. The three-story building, constructed in 1925, sits on a 0.17-acre lot and comprises thirteen units: eleven residential apartments and two commercial spaces. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $212,219, yielding a 6.85% capitalization rate. Pro forma projections indicate a potential NOI of $242,295 and a 7.82% cap rate, suggesting significant upside potential. Unit sizes range from 600 to 1,800 square feet, catering to a diverse tenant base. The property benefits from a gross lease structure and features separate utilities for each unit. Its strategic location offers convenient access to Newark Liberty International Airport, the Elizabeth Seaport, and the Jersey Gardens Mall, enhancing its appeal to both residents and businesses. This well-maintained building presents a rare opportunity to acquire a stable, high-performing asset in a thriving New Jersey market. The property is situated in Union County, New Jersey, with a zip code of 07206.

Highlights

  • $3,099,000 asking price.
  • Mixed-use, multifamily apartment building with 13 units.
  • Gross lease, 100% occupancy, 13 tenants.
  • 600-1800 square feet per unit.
  • 6.85% current cap rate, 7.82% pro-forma cap rate.
  • $212,219 current NOI, $242,295 pro-forma NOI.

Property Details for 210 Trumbull St

Property type
Mixed-use properties, Apartment buildings
Square Feet
600 SF
Year Built
1925
Buildings
1
Stories
3
Lot Size (sq. ft)
7,405 SF
Units
13

Location Insight

City
Elizabeth
County
Union
State
New Jersey
Latitude
40.65573792621
Longitude
-74.179731370016
210 Trumbull St, Elizabeth, New Jersey

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210 Trumbull St
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