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$850,000
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Property Description
The House Is Only Part Of The Opportunity At 503-505 Franklin St. This Two-Family Sits On A Double Lot and Offers A 3-Car Garage Plus Approximately 6 Additional Parking Spaces, With The Garages and Parking Currently Providing Additional Income. Each Unit Features 2 Bedrooms, 1 Full Bath, and Generous Living Space, While Bonus Space On The Third Floor and A Partially Finished Basement Provide Additional Flexibility. The First-Floor Unit Is Vacant, While The Second-Floor Tenancy Is Expected To Be Month-To-Month Beginning Next Month. Inside, You'll Find Hardwood Floors, Spacious Rooms, and An Updated Kitchen With Stainless-Steel Appliances. Outside, A Large Paved Area, Front Porch, 3-Car Garage, and Extensive Off-Street Parking Help Set This Property Apart. With Two Residential Units Plus Existing Garage and Parking Income, 503-505 Franklin St Offers Multiple Income Sources in One Property.
Full Property Details
Full Property Details for 503 Franklin St
General
- Price: $850,000
- Taxes: $10,734 (2025)
- Status: Active
- Type: Multi-Family
- Source: Garden_State
- MLS ID: 4055160
- Updated: 9/25/2026
- Added to Site: 14 day(s) ago
Interior
- Number of Rooms: 12
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 4
Bedrooms
- Total Bedrooms: 5
Parking
- Garage: Yes
- Garage Spaces: 3
- Garage Description: Detached Garage
Location
- County: Union
- Driving Directions: Elizabeth Ave to 5th St to Franklin Ave
Heating & Cooling
- Cooling Type: No Cooling
- Heating Type: 2 Units
- Heating Fuel: Natural Gas
- Water Heater: Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Gas In Street, Natural Gas
Structural Information
- Architectural Style: 3-Three Story
- Exterior Const.: Aluminum Siding
- Basement: Yes
- Basement Desc.: Finished-Partially
- Roof: Asphalt Shingles
- Year Built: 1901
Unit Information
Unit 1
- Unit Description: Bedrooms, Eat-In Kitchen, Living Room
- Levels/Stories: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Unit Description: Bedrooms, Eat-In Kitchen, Living Room
- Levels/Stories: 2
- Total Bathrooms: 1
- Bedrooms: 2
Unit 3
- Unit Description: Bedrooms
Lot Features
- Lot Size (Acres): 0.12
- Lot Dimensions: 50 x 100
- Driveway/Sidewalk: 1 Car Width, Blacktop, Driveway-Exclusive
Financial Considerations
- Assessment Amount: $352,200
- Land Assmt: $180,000
- Tax Amount: $10,734
- Tax Year: 2025
Disclosures and Reports
- Block: 660
- Lot Number: 29
Listed by Re/Max First Realty Ii
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Schools
Schools serving 503 Franklin St
School District:Elizabeth City School District
| Name | Grades | Distance |
|---|---|---|
Sonia Sotomayor School No 25 525 1st Avenue, Elizabeth, NJ 07206 | PK-8 | 0.2 mi |
Elizabeth High School 40 Morrell Street, Elizabeth, NJ 07202 | 9-12 | 0.9 mi |
John E Dwyer Tech Academy 123 Pearl Street, Elizabeth, NJ 07202 | 9-12 | 0.9 mi |
T Jefferson Arts Academy 27 Martin Luther King Junior Boulevard, Elizabeth, NJ 07201 | 9-12 | 0.9 mi |
T A Edison Career Tech Academy 625 Summer Street, Elizabeth, NJ 07202 | 9-12 | 0.9 mi |
Adm W F Halsey Leadership Academy 641 South Street, Elizabeth, NJ 07202 | 9-12 | 0.9 mi |
A Hamilton Preparatory Academy 310 Cherry Street, Elizabeth, NJ 07208 | 9-12 | 1.6 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 503 Franklin St
Date
Details
Price
Change
Source
9/25/2026
Listed
$850,000
382.95%
MLS
6/20/2011
Sold
$176,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 503 Franklin St
Year
Property Taxes
Change
Tax Assessment
Change
2025
$10,734
15%
$532,200
1645%
2022
$9,327
2%
$30,500
—
2021
$9,134
5%
$30,500
—
2018
$8,706
3%
$30,500
—
2017
$8,463
-4%
$30,500
—
2019
$8,791
4%
$30,500
—
2016
$8,463
6%
$30,500
—
2015
$7,960
9%
$30,500
—
2013
$7,289
—
$30,500
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 503 Franklin St
503 Franklin St, Elizabeth, NJ 07206 (MLS# 4055160) is a Multi-Family property with 2 units containing 5 bedrooms and 4 full bathrooms. 503 Franklin St is currently listed for $850,000 and was received on September 25, 2026. Want to learn more about 503 Franklin St? Do you have questions about finding other Multi-Family real estate for sale in Elizabeth? You can browse all Elizabeth real estate or contact a Coldwell Banker agent to request more information.

