Showing Agent:

Marvin Williams

Realtor
Coldwell Banker Realty
908-422-8621
Licensed In: NJ
License #: 1112228

3 Family Unit – Great Investment Opportunity: (9 Bedrooms and 3 Baths in total situated on double lot. Ideal to build another multi family). Value is in the bonus lot. Each of the 3 units comes with 3 sizable bedrooms and 1 bath. Interior of this property is in immaculate condition as it was updated approx. 10 years ago. No work is needed. The current tenants are paying $1,200 per month which is below market. However, the true potential rent roll of this property is Unit 1 = $1,850 / Unit 2= $1,1850 / Unit 3 =$1,850 a total of $5,550. (Potential annually income $66,600 and taxes $8,181) As a bonus this property sits on an oversized lot (50×130). The building sits on approx. 25X130 and the parking lot sits on approx. 25×130. This parking lot potentially could be converted and developed into a separate multi- family unit. That is really a double bonus. Basement is standing height/ full and unfinished / provides ample space for storage. Proximity to NYC trains and buses. Approximately 7 minutes to Newark International airport and 20 minutes to Midtown NYC.