Leases have just been increased and renewed for easy financing with long term written leases in place. This 5 unit mixed use building has no current vacancies and the leases total $87,900 annually. The current projected CAP rate based on income and expenses is 8.5%. This building has 3 residential apartments and 2 retail storefronts all with long term leases. Several updates have been made but there's still more room for growth and increased rent with full market potential exceeding $95,000 annually. Units are as follow: Apt 1 one bed one bath, Apt 2 one bed 1one bath, Apt 3 Three bed one bath, Storefront A Nail Salon, Storefront B Art/Tattoo studio. Tenants pay their own utilities for gas, heat, electric, hot water, and even sub-metered water. Additional details are available upon request.
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Listing Snapshot
Price
$750,000
Days On Site
141 Days
Bedrooms
5
Inside Area (SqFt)
4,000 sqft
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.13 Acres
Year Built
1955
MLS® Number
NJCD2117796
Status
Active Under Contract
Property Tax
$11,349
HOA/Condo/Coop Fees
N/A
Sq Ft Source
Estimated
Friends & Family
React
Invite
Recent Activity
2 months ago
Status changed to Active Under Contract
2 months ago
Listing updated with changes from the MLS®
5 months ago
Listing first seen on site
General Features
Acres
0.13
Cross Street
Black Horse Pike
Foundation
Slab
Parking
On StreetDriveway
Property Sub Type
Multi Family
Sewer
Public Sewer
Special Circumstances
Standard
SqFt Above
4000
SqFt Total
4000
Style
Traditional
Utilities
Cable AvailableWater AvailableSewer AvailableNatural Gas AvailableElectricity Available
