Murray Portfolio 2 Multifamily Properties in Elizabeth, NJ

Fernwood Realty Group is proud to exclusively present the Murray Portfolio, located in Elizabeth, NJ. The portfolio consists of five properties totaling 34 residential units: 225-227 Murray St., and four large contiguous properties spanning 134-144 Murray St. The unit mix consists of eighteen studio units, eleven one-bedroom units, three two-bedroom units, and two four-bedroom units, with all of the pr operties offering ample parking in the rear. The individual building unit mixes are as follows: 225-227 Murray St. is a 14-unit building consisting of 8 studio units and 6 one-bedroom units. 144 Murray St. is a 6-unit building consisting of 3 studio units and 3 one-bedroom units. 140 Murray St. is a 9-unit rooming house consisting of 7 studio units and 2 one-bedroom units. 136 Murray St. is a two-family house consisting of 2 four-bedroom units. 134 Murray St. is a three-family house consisting of 3 two-bedroom units. The buildings benefit from long-term ownership, having been held by current ownership for several decades, providing the opportunity for improvements to the properties and individual units. Additionally, the Elizabeth Zoning Board recently approved the land at 134-144 Murray, allowing for the opportunity to redevelop the 38,138 SF site with a brand new, three-story garden-style apartment community containing 29 residential units and 61 parking spaces with a ground-floor parking garage. The properties are located in the Elmora section of Elizabeth, providing residents a prime location just a few blocks from Downtown Elizabeth, offering a wide variety of shopping and dining options. Warinanco Park, Dr. Orlando Edreira Academy, and Kean University are all in the immediate vicinity. Downtown Elizabeth has continued to see significant new development and revitalization, anchored by the Vintage City redevelopment. Notable projects include the 267-unit Vinty (delivered 2022) and the 258-unit ECCO, now under construction across from the recently renovated $75 million Elizabeth Train Station. A nine-story, 300-unit mixed-use project at 1166-1236 East Broad Street was also recently approved. The properties offer excellent accessibility, located approximately one mile from the Elizabeth Train Station, which provides NJ Transit one-seat rides to Newark Penn Station (about 11 minutes) and New York Penn Station (about 35 minutes). The portfolio sits immediately adjacent to Routes 1 & 9, with quick connections to the NJ Turnpike (I-95) and the Goethals Bridge (approximately 2 miles) to Staten Island. Newark Liberty International Airport is just 7.4 miles away, making the Murray Portfolio a prime option for commuters to Newark, Jersey City, Hoboken, Manhattan, and Staten Island.