774 S Main St

Phillipsburg, New Jersey 08865

  • 12 Bed(s)
  • 5.5 Bath(s)
  • 0 Sqft
  • 0.23
    Acre(Lot)
$886,900

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!

  • Property Type

    Multi Family

  • County

    Warren

  • Style

    See Remarks

  • AD ID

    46825053

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BuyOwner last updated this listing 11/17/2024 @ 14:01

  • MLS: 3922112
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: Garden State MLS - New Jersey

is a Multifamily, with 12 bedrooms which is for sale, it has 0 sqft, 0 sized lot, and 0 parking. A comparable Multifamily, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Phillipsburg , in zip code 08865, this Warren County Multifamily are nearby neighborhoods.