167-169 Smith St 6 Unit Apartment Building $1,800,000 ($300,000/Unit) 6.39% Cap Rate Elizabeth, NJ 07201

Fully renovated A-Z in 2023, this turnkey six-unit building (just under 5,000 sqft) at 167-169 Smith St features comprehensive structural and systems upgrades completed to code. Full gut renovation includes new framing, plumbing, electrical, roofing, siding, structural reinforcement, a brand-new sewer line, a full French drain system, and increased building height for enhanced interior space. Each of the six units offers a 2-bedroom, 1-bath layout approximately @750 - 1,000+ sqft each, ceiling heights over 8 ft, an intercom system, and two units (1R and 2L) include private street-level entrances. The property is equipped with six individual Navien combination boiler systems one per apartment providing heat and hot water with efficient, tenant-paid utility separation. Building operations are simple, one water meter. Gas baseboard heat, separate gas and electric meters for each unit. Located directly across from a shopping center(s) such as Point Grande Plaza, and is minutes from The Mills at Jersey Gardens, Elizabeth Center, Union Square, Broad St, Morris Avenue, Elmora Avenue, and a nearby cannabis dispensary. Only 2 miles from Newark Airport (EWR), the asset offers exceptional commuter convenience with proximity to major highways, NJ Transit Elizabeth bus routes, and both Elizabeth NJ Transit train stations. Located within a high-demand rental market, Elizabeth, NJ, remains one of New Jersey's most active and attractive investment hubs.