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$629,900
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Property Description
Check out this amazing income-generating multifamily home! Why pay a mortgage when your house can pay it for you? Welcome to 614 1/2 Fourth Ave, a rare and versatile multi-family opportunity tucked away in one of Elizabeth's most convenient pockets - Peterstown. Whether you are looking to "house-hack" by living in one unit and renting the other, or you're an investor looking for a turn-key addition to your portfolio, this property delivers on every level. Two Modern Units: Bright, airy, and updated apartments featuring open layouts, contemporary kitchens with quartz counters, and stylish flooring. Bonus Value: The fully finished basement is a total game-changer! Perfect for a home office, recreation room, or massive storage area, adding significant usable square footage to the property. Separate Utilities: Ease of management with separate meters, making this a low-stress investment. All with an incredibly low property tax! Commuter's Dream: Located just minutes from the Elizabeth Train Station (Direct to NYC) and Newark Liberty International Airport. High Rental Demand: Situated near major employers, local hospitals, and the Jersey Gardens shopping hub. INVESTOR ALERT: This isn't just a home; it's a strategic asset. With a finished basement and two renovated units, the rental upside here is massive for the Elizabeth market. Don't wait for the "Sold" sign. Multi-family homes of this caliber with the added bonus of a finished basement are a rare find in today's market.
Full Property Details
Full Property Details for 614 1/2 4th Ave
General
- Price: $629,900
- Taxes: $7,145 (2024)
- Status: Active
- Type: Multi-Family
- Source: Garden_State
- MLS ID: 4004287
- Updated: 1/13/2026
- Added to Site: 8 day(s) ago
Interior
- Number of Rooms: 9
Rooms
Bathrooms
- Total Bathrooms: 3
- Full Bathrooms: 3
Bedrooms
- Total Bedrooms: 4
Exterior
- Exterior Features: Deck
Location
- County: Union
- Subdivision: Peterstown
- Driving Directions: South St on Fourth Ave
Heating & Cooling
- Cooling Type: Window A/C(s)
- Heating Type: Baseboard - Hotwater
- Heating Fuel: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Natural Gas
Structural Information
- Architectural Style: 2-Two Story
- Exterior Const.: Vinyl Siding
- Basement: Yes
- Basement Desc.: Finished, Full, Walk-Out
- Roof: Asphalt Shingles
- Year Built: 1900
- Remodeled/Updated: 2022
Unit Information
Unit 1
- Unit Description: Bedrooms, Eat-In Kitchen, Living/Dining Room
- Levels/Stories: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Unit Description: Bedrooms, Eat-In Kitchen, Living/Dining Room
- Levels/Stories: 2
- Total Bathrooms: 1
- Bedrooms: 2
Lot Features
- Lot Size (Acres): 0.03
- Lot Dimensions: 16 x 75
- Driveway/Sidewalk: On-Street Parking
Financial Considerations
- Operating Expenses: $999,999
- Assessment Amount: $257,600
- Land Assmt: $113,800
- Tax Amount: $7,145
- Tax Year: 2024
Disclosures and Reports
- Block: 540
- Lot Number: 12
Listed by Real
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Schools
Schools serving 614 1/2 4th Ave
School District:Elizabeth City School District
| Name | Grades | Distance |
|---|---|---|
Number 15, Christopher Columbus Elementary School 511 3rd Avenue, Elizabeth, NJ 07202 | PK-8 | 0.3 mi |
John E Dwyer Tech Academy 123 Pearl Street, Elizabeth, NJ 07202 | 9-12 | 0.4 mi |
T A Edison Career Tech Academy 625 Summer Street, Elizabeth, NJ 07202 | 9-12 | 0.4 mi |
Adm W F Halsey Leadership Academy 641 South Street, Elizabeth, NJ 07202 | 9-12 | 0.4 mi |
Elizabeth High School 40 Morrell Street, Elizabeth, NJ 07202 | 9-12 | 0.6 mi |
T Jefferson Arts Academy 27 Martin Luther King Junior Boulevard, Elizabeth, NJ 07201 | 9-12 | 0.6 mi |
A Hamilton Preparatory Academy 310 Cherry Street, Elizabeth, NJ 07208 | 9-12 | 1.2 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 614 1/2 4th Ave
Date
Details
Price
Change
Source
1/09/2026
Listed
$629,900
262.22%
MLS
7/18/2018
Sold
$173,900
—
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 614 1/2 4th Ave
Year
Property Taxes
Change
Tax Assessment
Change
2024
$4,806
-24%
$249,800
1101%
2022
$6,360
2%
$20,800
—
2021
$6,229
4%
$20,800
—
2019
$5,995
1%
$20,800
—
2018
$5,937
3%
$20,800
—
2017
$5,771
—
$20,800
—
2016
$5,772
63%
$20,800
53%
2015
$3,549
3%
$13,600
—
2014
$3,443
6%
$13,600
—
2013
$3,250
—
$13,600
—
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 614 1/2 4th Ave
614 12 4th Ave, Elizabeth, NJ 07202 (MLS# 4004287) is a Multi-Family property with 2 units containing 4 bedrooms and 3 full bathrooms. 614 12 4th Ave is currently listed for $629,900 and was received on January 09, 2026. Want to learn more about 614 12 4th Ave? 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.

