For Multi Family

638 Franklin St,Elizabeth City, NJ 07206-1211

April 16, 2026

Income-producing 2-family property in Elizabeth. Excellent Location and Great Value. First floor is long term Tenant Occupied on a month to month lease. 2nd Floor – currently being remodeled, long term tenant paying $2,200 recently moved out. Each unit offers functional layout with strong rental demand. Property sold as-is. Buyer responsible for all due diligence. Do not disturb tenants. Showings by appointment only.

Property ID:PT-37605659-AXZR

Offer Type:For Multi Family

Property Type:Multi-Family

Price: 599,000 $

Bedrooms:6

Year Built:2021

Listing Details

Status: Active

Location

County: Union

Lotsize: 25X100

Lot Identifier: 6

Home Details

Open Parking: 0

Basement: Yes

Renovated: 2021

Basmnt/Desc: Yes - Unfinished

Acreage: 0.06

Total Baths: 2.00

Unit Style: 2-Two Story

Number of Units: 2

Rooms: 10

Easement/Desc: No

Exterior Description: Brick, Vinyl Siding

Roof Description: Asphalt Shingle

Possesion: 0-30

Unit 1 Appliances/Equipment: Carbon Monoxide Detector, Fire Alarm System, Microwave Oven, Refrigerator, Smoke Detector

Unit 1 Levels: 1

Unit 1 Rooms: 5

Unit 1 Beds: 3

Unit 1 Baths: 1.0

Unit 1 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat

Unit 1 Handicap: No

Unit 1 SqFt: 1000

Unit 1 Rent: 1750

Unit 1 Room Description: Bedrooms, Dining Room, Eat-In Kitchen, Kitchen, Living Room

Unit 1 Security Deposit: 2100

Unit 2 Appliances/Equipment: Carbon Monoxide Detector, Fire Alarm System, Microwave Oven, Refrigerator, Smoke Detector

Unit 2 Levels: 1

Unit 2 Rooms: 5

Unit 2 Beds: 3

Unit 2 Baths: 1.0

Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat

Unit 2 Handicap: No

Unit 2 SqFt: 1000

Unit 2 Room Description: Bedrooms, Dining Room, Eat-In Kitchen, Kitchen, Living Room

Garage Description: On-Street Parking

Block Identifier: 640

County Number: 29

Town Number: 2904

YB/Desc: 2021 - Renovated

Easement: No

Parking/Driveway Description: On-Street Parking

Block Identifier: 640

County Number: 29

Town Number: 2904

Possession: 0-30

Taxes, Fees & Assessments

Gross Operating Income: 3950

Net Operating Income: 3137

Expense Include: Cold Water, Insurance, Taxes

Tax ID For Property: 2904-00640-0000-00006-0000-

Tax Amount: $7,658.00

Tax Year: 2025

Tax Rate: 2.017%

Tax Rate Year: 2025

Farm Assessment: No

Land Assessment: $128,300.00

Building Assessment: $251,400.00

Total Assessment: $379,700.00

FHA Age Restricted: No

Utilities

Heat Source: Gas-Natural

Heat System: Radiators - Hot Water

Cool System: Wall A/C Unit(s)

Water: Public Water

Sewer: Public Sewer

Utilities: Electric, Gas-Natural

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Listing Details

638 Franklin St,Elizabeth City, NJ 07206-1211

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