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New Jersey real estate values have skyrocketed in recent years. And it’s not just people who have been priced out of New York City who are scooping up properties.
Strong market fundamentals have made New Jersey attractive to investors looking for multi family homes for sale.
With that, we’re helping you discover multi family homes for sale in New Jersey—from those located just outside NYC, to the New Jersey shoreline, and everywhere in between.
How to Find Multi Family Homes for Sale in NJ
Whether you’re a first-time investor or have a robust portfolio, finding lucrative deals can be challenging in today’s real estate market.
So, what are the best ways to find multi family homes for sale in NJ?
There are generally three strategies for finding profitable real estate deals:
- Scour traditional listing platforms
- Look for off-market deals
- Work with a real estate broker.
Sometimes, finding a great deal requires a combination of all three
Here, we’ll take a look at the best commercial and residential listings platforms. Then, we’ll show you how to take your search off-market with Reonomy to widen your scope of opportunity.
Commercial and Residential Real Estate Listings
Investors should start their real estate search for multifamily homes for sale in NJ on the multiple listings service, or MLS.
The MLS contains commercial and residential real estate listings that are syndicated to multiple platforms. Therefore, these listings are widely available to the rest of the marketplace.
Because MLS properties are available to a wide audience, investors typically face a more competitive buying environment.
While there may be more competition for MLS-listed properties, this platform helps you find the widest variety of multi family homes for sale in NJ.
Here are a few of the most prominent MLS-oriented platforms to find New Jersey real estate.
Most buyers think of Zillow as a platform for single family homes. But Zillow is also a great place to search for multi family homes for sale in NJ and throughout the nation.
It’s a great resource for those in search of duplexes or triplexes as well.
Many multifamily property owners and brokers use Zillow when listing NJ apartments for rent.
Therefore, investors looking to purchase multi family properties can use the platform to estimate realistic rents for their tenants.
Trulia is another residential-focused MLS platform that is preferred by some for its user-friendly interface.
It’s a great resource for those looking to purchase investment property, including duplexes and triplexes for sale in NJ.
Something to note: Trulia was purchased by Zillow back in 2015, so while the platforms are technically different, there is significant overlap with the listings featured on each.
Many people don’t realize that LoopNet can also be used to find multi family properties for sale in NJ, as well.
The multi family homes for sale listed on LoopNet tend to skew larger, so this is a great place to find six-unit, 20-unit, even 50+ unit multi family homes for sale.
Coldwell Banker Residential Brokerage
There are multiple adept real estate brokerages selling multi family homes for sale in NJ, but Coldwell Banker Residential Brokerage really rises to the top.
Coldwell Banker has offices across the state, including in Clark, Elizabeth, Ventnor City, Stone Harbor, Barnegat, Vineland, Nutley, and more.
Prominent Properties is an office of Sotheby’s International based in New Jersey.
The brokerage gains interest in its multi family homes for sale by featuring stunning photography across the web and social media, as most investors begin their searches online.
“The internet is your first open house,” says Diane Cookson, an agent at Prominent Properties in Saddle River.
Realtor.com is another online platform used by investors searching for multi family homes for sale in NJ.
The website is easy to navigate. Simply type in a city or town of interest and filter by “multi family” listings to view MLS-listed properties on homes.com.
Some of Weichert’s largest offices are in Monmouth County, Morris Township, Bergen County, Burlington, and Ocean Township.
For Sale by Owner Listings
For sale by owner listings, otherwise referred to as “FSBO”, are harder for brokers and investors to track down. There are a few ways people can search for FSBO multi family homes for sale in NJ.
For Sale by Owner
For Sale by Owner is a website focused on just that – listing homes for sale by owner. This platform is one of the leading FSBO sites in the U.S.
The website claims to help sellers save (collectively) tens of millions of dollars in real estate commissions each year. For Sale by Owner focuses exclusively on residential properties and often features multi family homes for sale.
FSBO.com is a global marketplace for those looking to sell residential real estate without hiring a broker.
The platform offers two packages: The first costs $99.95 for 12 months and allows users to post unlimited photos and a marketing video, and includes a cross-posting on the Redfin website.
The second package is more costly, but offers greater marketing options. The, $399.95 fee only includes a six-month listing, but this package syndicates the listing to the MLS platform.
That means the listing is featured on prominent sites like Zillow, Redfin, Realtor.com and other online listing websites that help investors find multi family homes for sale in NJ.
Craigslist is often used by people searching for apartments for rent. But savvy investors can also use it to buy and sell l multi family homes for sale in NJ.
Posts are discoverable by geography, making this site helpful for those searching in very specific locations.
Despite Craigslist’s wide appeal and market reach, one downfall is that the platform does not have a tool to refine searches to only include multi-family properties for sale.
Users have to search for specific keywords, such as “duplex,” “investment property,” or “apartment building” to uncover potential deals.
Search Off-Market with Reonomy
Another option is to search off-market for New Jersey multi family assets.
Instead of just searching properties currently on the market, Reonomy helps you tap in to all multi family properties in the state.
You’ll also be able to get in touch with owners directly, giving you an advantage over the competition.
Going off-market gives you more options in the property discovery process.
Finding unlisted real estate helps you avoid the competition and price hikes of on-market listings. Plus, you’ll also avoid costly broker fees and communication go-betweens.
Below, we’ll show you how to run an off-market search for multi family properties likely to sell in NJ using Reonomy. We will also demonstrate how to search listings platforms to find your ideal asset.
How to Search Different Platforms (With Examples)
When scouring the market for multi family homes for sale in NJ, a logical place to start is by browsing online listings. Some platforms are easier to navigate for this purpose than others.
Here’s a look at how investors and brokers can use a few of the more popular platforms to find multifamily homes for sale in New Jersey.
Bergen County Search with Zillow
Bergen County is one of the state’s most prominent areas for investors searching for multi family homes for sale. Let’s take a look at how to use Zillow to search for properties in Bergen County, using Garfield, NJ as an example.
When searching on Zillow, start by filtering for geographic area.
A search of multi family homes for sale in Garfield, NJ, for example, reveals over a dozen properties currently on the market.
These properties range from duplexes priced under $300,000 to a four-family apartment building listed for approximately $700,000.
Monmouth County Search with LoopNet
There are a significant amount of multi family homes for sale in Monmouth County on LoopNet.
This area is popular with investors because several areas in Monmouth County (e.g. outside Asbury Park, Long Branch, Red Bank and more) are designated Opportunity Zone tracts.
This designation offers significant tax benefits to people willing to invest and improve upon properties in underserved areas.
Most of the Monmouth County listings featured on LoopNet are office and retail properties for sale, although there are a few multi family homes for sale as well.
For example, the listing above is for a four-unit multi family property for sale in Long Branch, NJ. One of the benefits of LoopNet is that it features critical property information that investors look for, such as the cap rate.
Cap rates are one of the metrics that investors use to analyze potential deals.
Elizabeth, NJ Search with Reonomy
When going off-market with Reonomy to search for multi family homes in NJ, you can search with varying levels of granularity.
Aside from location, you can filter properties by asset class and sub-classes, sales history, debt history, current business tenants, owner records, and much more.
Let’s say you’re looking for duplexes in Elizabeth, NJ.
First, you’d add your location.
Then, add asset type filters for multi family, or any combination of multi family sub-classes. Let’s say you’re only searching for duplexes.
From here, you can add more specific building and lot filters in the Building & Lot tab. Here, you can choose to only see properties within Opportunity Zones.
Then, identify properties where the owner is likely to sell. To do this, search by sales history, or for properties that have not been sold within the last five years, ten years, or any custom range you prefer.
Jersey City Search with Trulia
Jersey City is one of the hottest destinations for investors looking to purchase multi family homes for sale in NJ.
That’s because Jersey City is literally closer to downtown NYC than most of NYC-proper.
To search these listings, type in “Jersey City, NJ” into the search bar. Given the volume of listings, it may be helpful to refine your search based on specific criteria.
One way to narrow your search is by filtering for new listings only, defined as those posted within the last week. This process will significantly narrow your results.
Conversely, you can search for properties with upcoming open houses or those that have reduced the listing price in the past week.
Clifton, NJ Search with Homes.com
Start by entering the town into the search bar. As you’ll see here, Homes.com tends to feature smaller multi family homes for sale, such as duplexes and triplexes.
Of the 45 multi family homes for sale in Clifton, NJ on the market right now, the vast majority are duplexes primarily in residential neighborhoods.
Although homes.com does not allow users to search for multi family properties based on number of units, you can filter for larger apartment buildings by searching with the number of bathrooms.
The more bathrooms a building has, the greater number of units it will have.