NJ > Phillipsburg Town
Phillipsburg Town, NJ 08865,774 S Main St
Phillipsburg Town, NJ 08865,774 S Main St
Phillipsburg Town, NJ 08865,774 S Main St
Phillipsburg Town, NJ 08865,774 S Main St
Phillipsburg Town, NJ 08865,774 S Main St
Phillipsburg Town, NJ 08865,774 S Main St
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Brenda Barzola-Diaz

Brenda Barzola-Diaz

+1(201) 850-0771
$ 869,900
Est. payment | /mo

5,400 SqFt

Save
$ 869,900
Est. payment | /mo
Save

5,400 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,400 sqft

Price per Sqft $161

MLS Listing ID 3921882

Year Built 1900

Annual Tax Amount $11,379

Tax Year 2023

Lot Size 10,018 Sqft

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!

Location

State NJ

County Warren

Zoning B-2

Rooms

Basement Unfinished

Interior

Heating Gas-Natural

Cooling Window A/C(s)

Equipment Appliances, Fire Alarm, Smoke Detector

Heat Source Gas-Natural

Exterior

Exterior Feature See Remarks

Utilities Available Gas-Natural

Roof Type Asphalt Shingle

Building

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.
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774 S Main St