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.
84 days
|
446
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20
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Zillow last checked:
Listing updated:
Listed by:
Nathaniel Parker609-921-4511,
RE/MAX Select - Princeton
Source: Bright MLS,MLS#: NJCD2117796
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 5
Bathrooms: 3
Heating
Radiator, Baseboard, Natural Gas
Cooling
Other, Electric
Appliances
Included: Gas Water Heater
Features
Has fireplace: No
Interior area
Total structure area: 4,000
Total interior livable area: 4,000 sqft
Property
Parking
Parking features: Public, On Street, Driveway
Has uncovered spaces: Yes
Accessibility
Accessibility features: None
Features
Pool features: None
Lot
Size: 5,611 Square Feet
Dimensions: 85.00 x 66.00
Features: Level, Urban
Details
Additional structures: Above Grade
Parcel number: 040013700046
Zoning: COMMERCIAL
Zoning description: Mixed use
Special conditions: Standard
Construction
Type & style
Home type: MultiFamily
Architectural style: Traditional
Property subtype: Quadruplex
Materials
Block
Foundation: Slab
Roof: Pitched,Flat
Condition
Average
New construction: No
Year built: 1955
Utilities & green energy
Sewer: Public Sewer
Water: Public
Utilities for property: Water Available, Sewer Available, Natural Gas Available, Electricity Available, Phone, Cable Available, Above Ground
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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