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$ 950,000
Est. payment | /mo
1,742 Sqft Lot
$ 950,000
Est. payment | /mo
1,742 Sqft Lot
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3934175
Year Built 1920
Annual Tax Amount $9,586
Tax Year 2023
Lot Size 1,742 Sqft
Property Description
Discover a highly desirable mixed-use property just five blocks from the heart of downtown, offering excellent rental income at 7.25% CAP Rate and long-term leases. This property is ideal for investors looking for a steady revenue stream with growth potential!Commercial Space (1st Floor): Spacious commercial area with a basement, currently leased for $2,570 per month with a secure 10-year lease and a 3% annual rent increase. This setup ensures reliable income with a growth trajectory for years to come.Residential Units:2nd Floor: Fully renovated 4-bedroom, 1-bathroom apartment with a lease in place. Enjoy $2,550 in monthly rent for this renovated unit, offering a comfortable living space for tenants.3rd Floor: 3 bedrooms, 1-bathroom unit renting at $2,000 per month.Additional Highlights:No on-site parking, but conveniently located just a short five-block walk to downtown.
Location
State NJ
County Essex
Zoning no
Rooms
Basement Finished-Partially, Full
Interior
Heating Gas-Natural
Cooling 3 Units
Equipment See Remarks
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available See Remarks
Roof Type Asphalt Shingle
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
Information deemed reliable but not guaranteed. Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by CHRISTIE'S INT. REAL ESTATE GROUP
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