189 Pennington Avenue

TRENTON, NJ 08618

  • 0 Bed(s)
  • 0 Bath(s)
  • 2,480 Sqft
  • 2500
    Sqft(Lot)
$349,000

Description

New price! 189 pennington avenue presents a compelling investment opportunity with significant upside potential through strategic management and market repositioning. this mixed-use property comprises residential and commercial units, offering a balanced and diversified income stream.

first floor unit approximately 500 sq ft, 1 bedroom 1 bathroom. renting at $1,225/mo.

second floor unit, 3 bedrooms including finished attic. approximately 1,500 sq. ft. renting at $1,160/mo. which is significantly below market value with older couple currently staying there for 10+ years. market rent is $1,800 for 3 bedroom.

the commercial unit, currently operating as a hair salon, is rented at $850/month, also below market value of $1,000/mo. there is an opportunity to negotiate future lease agreements in line with market escalations, potentially increasing income by 20-25%. the property's gross annual rental income potential, if all units are rented at current rates, is $38,820. however, with adjustments to market rent rates, the projected annual income could rise to $48,300. recent renovations and market adjustments enhance operational efficiency, providing a strategic advantage for increased net operating income (noi).

the mixed-use nature of the property reduces vacancy risks and enhances overall financial stability, making it an attractive option for real estate investors. in a revitalizing area, 189 pennington avenue offers promising growth in rental income and property value, making it a lucrative investment opportunity.

should you need assistance finding a mixed use loan the current owner is happy to assist.

  • Property Type

    Multi-Family

  • County

    MERCER

  • Style

    A-Frame

  • AD ID

    45631183

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Property Details

  • Water/Sewer

    • Water Source : Public

    Heating & Cooling

    • Cooling: Window Unit(s)
    • Heating: Baseboard - Electric
    • Cooling Fuel: Electric
    • Heating Fuel: Electric

  • Building Information

    • Year Built: 1896
    • Structure: Detached
    • New Construction: No
    • Total Units: 3
    • Built: 1896
    • Construction Material: Frame
    • Foundation/Basement: Brick/Mortar
    • Architecture: A-Frame
    • Pool/Private: No Pool

    Pool Information

    • Pool: No Pool

    Utility Features

    • Sewer: Public Sewer

    Water

    • Water Heat: Instant Hot Water

  • Lot Information

    • Lot Size: 2,500
    • Dimensions: 25.00 x 100.00
    • Lot Size (Acres): 0.06
    • Architectural Style: A-Frame
    • Stories Total: 2
    • Main Square Feet: 2,500

    Property Information

    • SQ ft: 2,480
    • SQ ft (Living Area): 2,480
    • Total Lot SQ ft: 2,500
    • Financing: Cash,Conventional,FHA
    • Appx. Lot Dimensions: 25.00 x 100.00
    • Total Acreage: 0.06
    • New Construction: No
    • Type: A-Frame

  • Listing Information

    • Possession: Immediate
    • Days Of Market: 247

  • Tax Information

    • Annual Tax: $7,918
    • Tax Year: 2024
    • Total Taxes Payment Frequency: Annually

    Possession

    • Immediate

    Assessment Information

    • Taxes Assessment Amount: $136,500

  • Parking Information

    • Parking Type: On Street

    Multi-Unit Information

    • Acceptable Financing: Cash,Conventional,FHA

    Homeowners Association Information

    • Direction: Take NJ-29 N Take Calhoun St Exit toward capitol complex/ Thomas Edison State Univ. Turn left onto Pennington Ave.

  • School Information

    • School District: TRENTON PUBLIC SCHOOLS

    Utility Information

    • Water Source: Public
    • Sewer: Public Sewer
    • Cooling Fuel: Electric
    • Heating Fuel: Electric
    • Hot Water: Instant Hot Water

    Location Information

    • Direction: Take NJ-29 N Take Calhoun St Exit toward capitol complex/ Thomas Edison State Univ. Turn left onto Pennington Ave.
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BuyOwner last updated this listing 01/30/2025 @ 03:54

  • MLS: NJME2043384
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: BRIGHT MLS

is a Other, with 0 bedrooms which is recently sold, it has 2,480 sqft, 2,500 sized lot, and 0 parking. A comparable Other, 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 TRENTON , in zip code 08618, this MERCER County Other and are nearby neighborhoods.