210 Trumbull StElizabeth, NJ 07206

Property Details for 210 Trumbull St

Year built

1925

Lot size

0.17 AC

Property size (Sq ft)

600 SF

Property type

Mixed-use properties

Property subtype

Apartment buildings

Description

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.

Location Insight

City

Elizabeth

County

Union

State

New Jersey

Latitude

40.6557

Longitude

-74.1797

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