$364,000
$425,000
14.4%For more information regarding the value of a property, please contact us for a free consultation.
2,944 SqFt
SOLD DATE : 01/10/2024
Key Details
Sold Price $364,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,944 sqft
Price per Sqft $123
Subdivision Millviile
MLS Listing ID NJCB2015348
Sold Date 01/10/24
Style Other
Abv Grd Liv Area 2,944
Originating Board BRIGHT
Year Built 1892
Annual Tax Amount $3,271
Tax Year 2022
Lot Size 5,760 Sqft
Acres 0.13
Lot Dimensions 40.00 x 144.00
Property Description
Prime Investment Opportunity - Fully Occupied 4-Unit Rental Property
Welcome to this excellent investment opportunity! This fully occupied 4-unit rental property is a smart choice for investors looking for steady income in a sought-after location.
Property Details:
1st Floor, Unit 308: 2BR - Monthly rent $1,150.00
2nd Floor, Unit 308: 2BR & Attic - Monthly rent $1,500.00 (tenant moving, new rent will be $1,600.00)
1st Floor, Unit 310: 2BR - Monthly rent $1,600.00
2nd Floor, Unit 310: 2BR & Attic - Monthly rent $1,450.00
Financials:
Gross Rental Income: $68,400.00 per year
Net Income: Approximately $52,571.00 per year
Property Highlights:
Tenants pay for their own utilities, reducing landlord expenses.
Recent roof replacement on 308 1st floor front and back, and two new water heater's that are still under warranty reducing maintenance costs.
Freshly painted apartments, enhancing the property's appeal.
This property offers a solid income stream, and with the upcoming rent increase, it presents a potential for even higher returns. Located in a desirable area, it's an opportunity that shouldn't be missed. Contact us for more information and to schedule a viewing.
Location
State NJ
County Cumberland
Area Millville City (20610)
Zoning R
Rooms
Basement Unfinished
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling None
Equipment Oven/Range - Gas, Built-In Range
Fireplace N
Appliance Oven/Range - Gas, Built-In Range
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Millville Area
Others
Tax ID 10-00472-00004
Ownership Fee Simple
SqFt Source Assessor
Special Listing Condition Standard
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Bought with William Cupe • Better Homes and Gardens Real Estate Maturo