827 Elizabeth AveElizabeth, NJ 07201

Property Details for 827 Elizabeth Ave

Year built

1900

Lot size

0.06 AC

Property size (Sq ft)

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.

Location Insight

City

Elizabeth

County

Union

State

New Jersey

Latitude

40.6592

Longitude

-74.203

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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