Sold for $295,000

$295,000

523 Park Place Dr, Cherry Hill, NJ 08002

2beds

1,312sqft

Apartment

Built in 1986

-- sqft lot

$-- Zestimate^®

$225/sqft

$2,431 Estimated rent

Home value

Not available

Estimated sales range

Not available

$2,431/mo

Zestimate^® history

Owner options

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$2,431/mo

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$2,431/mo

Rent Zestimate^®

Refinance and save

$2,482/mo

Est. payment

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$2,482/mo

Est. payment

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What's special

This tenant-occupied, cash-flowing 2-bed, 2-bath condo in the high-demand Park Place community is a prime investment opportunity. Currently rented at $2,500/month, it offers immediate income with a stable tenant in place. Featuring a modern kitchen, luxury vinyl flooring, and a first-floor bedroom with an attached bath and balcony, the unit is well-maintained and move-in ready. With an assumable mortgage, HOA at $313/month ($3,756 annually), taxes at $468.50/month ($5,622 annually), and insurance at just $326/year, carrying costs are low and predictable. The Park Place community offers desirable amenities like a pool, tennis courts, and clubhouse, making it a high-demand rental location. Located near major highways, shopping, and employers, this turnkey property delivers consistent rental income, strong ROI, and long-term appreciation. Lock in this passive income opportunity today!

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 2
Bathrooms: 2
Full bathrooms: 2
Main level bathrooms: 2
Main level bedrooms: 2

Basement

Area: 0

Heating

Forced Air, Electric

Cooling

Central Air, Natural Gas

Appliances

Included: Energy Efficient Appliances, Gas Water Heater
Laundry: In Unit

Features

Ceiling Fan(s), Breakfast Area, Floor Plan - Traditional, Eat-in Kitchen, Cathedral Ceiling(s)
Flooring: Carpet, Tile/Brick, Marble
Windows: Skylight(s)
Has basement: No
Has fireplace: No

Interior area

Total structure area: 1,312
Total interior livable area: 1,312 sqft
Finished area above ground: 1,312
Finished area below ground: 0

Property

Parking

Parking features: Private, Parking Lot

Accessibility

Accessibility features: Accessible Entrance

Features

Levels: Two
Stories: 2
Patio & porch: Deck
Exterior features: Lighting, Sidewalks, Street Lights, Balcony
Pool features: Community

Lot

Size: 2,047 Square Feet

Details

Additional structures: Above Grade, Below Grade
Parcel number: 0900052 0100001C0523
Zoning: RESIDENTIAL
Special conditions: Standard

Construction

Type & style

Home type: Apartment
Architectural style: Contemporary
Property subtype: Apartment
Attached to another structure: Yes

Materials

Wood Siding, Aluminum Siding
Roof: Shingle

Condition

Very Good
New construction: No
Year built: 1986

Details

Builder model: HYDE PARK

Utilities & green energy

Electric: 100 Amp Service
Sewer: Public Sewer
Water: Public

Community & HOA

Community

Features: Pool
Subdivision: Park Place

HOA

Has HOA: Yes
Amenities included: Tennis Court(s), Pool, Clubhouse
Services included: All Ground Fee, Maintenance Structure, Insurance, Maintenance Grounds, Management, Snow Removal, Trash
HOA fee: $313 monthly
HOA name: PARL PLACEE CONDOMINIUM

Location

Region: Cherry Hill
Municipality: CHERRY HILL TWP

Financial & listing details

Price per square foot: $225/sqft
Tax assessed value: $124,700
Annual tax amount: $5,559
Date on market: 2/3/2025
Listing agreement: Exclusive Right To Sell
Listing terms: Negotiable
Inclusions: Kitchen Appliances.
Exclusions: Tenant's Furniture.
Ownership: Fee Simple

Price history

Date	Event	Price
2/21/2025	Sold	$295,000$225/sqft
Source: Bright MLS #NJCD2085552 Report a problem
2/12/2025	Pending sale	$295,000$225/sqft
Source: Bright MLS #NJCD2085552 Report a problem
2/4/2025	Listed for sale	$295,000+62.1%$225/sqft
Source: Bright MLS #NJCD2085552 Report a problem
8/28/2023	Listing removed	--
Source: Zillow Rentals Report a problem
8/4/2023	Listed for rent	$2,850$2/sqft
Source: Zillow Rentals Report a problem
5/20/2022	Sold	$182,000+7.1%$139/sqft
Source: Bright MLS #NJCD2020652 Report a problem
3/9/2022	Pending sale	$170,000$130/sqft
Source: Bright MLS #NJCD2020652 Report a problem
3/5/2022	Listed for sale	$170,000$130/sqft
Source: Bright MLS #NJCD2020652 Report a problem