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774 S Main St

Phillipsburg Town, NJ 08865
  • $869,900
  • STATUS: Active
  • ON SITE: 94 Days
  • ID#: 3921882
UPDATED: 54 min ago
$869,900
  • 0
    BEDS
  • 0.23
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,575
    SQFT
  • $190
    $/SQFT
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

$1.05M property on sale! Fantastic investment opportunity in the heart of Phillipsburg, NJ! This legally recognized 5-unit property offers exceptional value with an impressive 8% cap rate. Situated on a spacious lot on S Main St, the property consists of two buildings on one tax record: one with 3 units and the other with 2 units. All units are currently 100% occupied, with some tenants on Section 8, providing steady rental income.One standout feature is the recently renovated unit, which boasts 4 legal bedrooms and a finished attic that can be converted into a 5th bedroom, further enhancing the property's value. Tenants cover their own utilities, including water and sewage, making for a hassle-free investment. Monthly gross income is $7825, annual gross income is $93,900. Annual property taxes are $13,200 and property insurance is $5500. The property benefits from affordable real estate taxes and has recently been appraised at $1.05M as-is. With potential to increase rents to match market rates, this cash-flowing asset is an ideal opportunity for savvy real estate investors. Don?t miss out on this unique chance to own a multifamily gem in a growing area!

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Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Daunno Realty Services, LLC. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Daunno Realty Services, LLC are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-12-08T22:46:07.413.
www.daunnorealty.com/homes/154639129
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774 S Main St Phillipsburg Town, NJ 08865

  • Price: $869,900
  • Status: Active
  • On Site: 94 Days
  • Updated: 54 min ago
  • ID#: 3921882
0
Beds
0
Baths
0
½ Baths
0.23
Acres
4,575
SQFT
$190
$/SQFT
1900
Built
County:
Warren
Area:
Phillipsburg Town
Property Description
$1.05M property on sale! Fantastic investment opportunity in the heart of Phillipsburg, NJ! This legally recognized 5-unit property offers exceptional value with an impressive 8% cap rate. Situated on a spacious lot on S Main St, the property consists of two buildings on one tax record: one with 3 units and the other with 2 units. All units are currently 100% occupied, with some tenants on Section 8, providing steady rental income.One standout feature is the recently renovated unit, which boasts 4 legal bedrooms and a finished attic that can be converted into a 5th bedroom, further enhancing the property's value. Tenants cover their own utilities, including water and sewage, making for a hassle-free investment. Monthly gross income is $7825, annual gross income is $93,900. Annual property taxes are $13,200 and property insurance is $5500. The property benefits from affordable real estate taxes and has recently been appraised at $1.05M as-is. With potential to increase rents to match market rates, this cash-flowing asset is an ideal opportunity for savvy real estate investors. Don?t miss out on this unique chance to own a multifamily gem in a growing area!
Exterior Features

Approximate Lot Size .235 ACRE Construction Metal Frame Exterior Description See Remarks Location Residential Area Number Of Bays 0 Number Of Docks 0 Parking Driveway Description On-Street Parking Roof Description Asphalt Shingle

Interior Features

Basement Yes Basement Description Unfinished Cooling Window A/C(s) Equipment Available AppliancesFire AlarmSmoke Detector Heating See Remarks Max Ceiling Height 9999 Max Door Height 9999 Number Of Lavatories 6 Office Sq Ft 0

Property Features

For Sale Or Lease For Sale Free Rent No Fuel Type Gas-Natural Gross Operating Income 93900 Net Operating Income 75200 Primary Property Type Apartment Complex Property Type Apartment Complex Sale Includes Building & Land Sewer Public Sewer Suite Number 9999 Tax Amount 11379 Tax Rate Amount 4.196 Tax Rate Year 2023 Tax Year 2023 Tenant Pays Cable T.V.ElectricGasHeatHot WaterSewerWater Total Operating Expense 18700 Utilities Gas-Natural Utilities Paid By Tenant Water Public Water Year Built Description Approximate Zoning B-2

Listing information © 2024 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of : 609-455-3728.


Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Daunno Realty Services, LLC. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Daunno Realty Services, LLC are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-12-08T22:46:07.413.
 
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Daunno Realty Services, LLC
206 Westfield Avenue
Clark NJ, 07066