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Listed by Hector Rojas EXP Realty, LLC
$ 549,000
Est. payment | /mo
$ 549,000
Est. payment | /mo
Key Details
Property Type Multi-Family, Commercial
Sub Type Res/Com Mixed
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 25012490
Style Res/Com Mixed
Property Sub-Type Res/Com Mixed
Property Description
Prime Mixed-Use + Redevelopment Opportunity in Elizabethport! 552-554 Elizabeth Ave is a cash-flowing mixed-use property featuring 2 large 2-bed/1-bath apartments, 1 non-conforming 1-bed unit, and a commercial space currently operating as an auto repair shop. Held by the same owner for over 30 years, all units are rented with under-market rents, offering excellent value-add potential. Situated on a double lot and zoned R-4, the property may allow for redevelopment into a larger mixed-use building, multi-family, or townhouse-style units (subject to city approvals). Just blocks from the Elizabeth waterfront and transit to NYC, this is a rare opportunity to increase rents or reposition the site entirely in a rapidly growing area. Sold as-is. Buyer to perform all due diligence.
Location
State NJ
County Union
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Thomas Mikalouskas
REALTOR® | Lic# 0235388