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
$ 886,900
Est. payment | /mo

12 Beds

5.5 Baths

10,018 Sqft Lot

Save
$ 886,900
Est. payment | /mo
Save

12 Beds

5.5 Baths

10,018 Sqft Lot

Key Details

Property Type Multi-Family, Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 3922112

Style See Remarks

Bedrooms 12

Full Baths 5

Half Baths 1

Annual Tax Amount $13,200

Tax Year 2023

Lot Size 10,018 Sqft

Property Description

$1.05M property is on sale for only $886,900! 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. This building includes (1) 1bed, (2) 2bed, (1) 3 bed, (1) 4bed units. Tenants cover their own utilities, including water, 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

Rooms

Basement Unfinished

Interior

Heating Electric, Gas-Natural

Cooling Wall A/C Unit(s)

Heat Source Electric, Gas-Natural

Exterior

Exterior Feature Aluminum Siding

Roof Type Asphalt Shingle

Building

Sewer Public Sewer

Water Public Water

Architectural Style See Remarks

Others

Senior Community No

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