$ 695,000
1-3-5-7 Memorial Parkway Phillipsburg Town, NJ 08865
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In-PersonVirtual Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 695,000
Est. payment /mo
Under Contract
1-3-5-7 Memorial Parkway Phillipsburg Town, NJ 08865
6,098 Sqft Lot
UPDATED:
10/22/2024 06:57 PM
Key Details
Property Type Multi-Family
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 3925092
Annual Tax Amount $14,169
Tax Year 2023
Lot Size 6,098 Sqft
Property Description
Looking for a solid investment in a prime location? This fully leased 7-unit multi-family gem is minutes away from Phillipsburg Shopping, Easton's Upscale Restaurants, and annual vibrant themed festivals, making it a hotspot for tenants! With an impressive 8.52% cap rate and an 11.9% GRM, this property offers incredible income potential. Each of the 7 units boasts cozy living spaces with plenty of charm. Plus, the tenants stay an average of over 5 years! That's stability you can count on. Located on a corner lot with convenient private off-street parking, making it even more attractive to renters. To top it off, over $50,000 in improvements have been made in the last two years, including a new roof and the replacement of two boilers. Whether you're a seasoned investor or just starting out, this property checks all the boxes. With public transportation, major highways, and Lafayette College in Easton nearby, this location can't be beaten. Plus, with the potential for DSCR loan qualification, the financing options are appealing. Don't miss out on this great investment opportunity! Ask your Realtor today to schedule a tour to see this incredible positive cash-flowing property!
Location
State NJ
County Warren
Zoning B-1
Rooms
Basement Full, Unfinished
Interior
Heating Gas-Natural
Cooling No Cool
Flooring Carpeting, Laminate, Vinyl-Linoleum
Equipment Appliances, Fire Alarm, Smoke Detector, Storage Area(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Garage Spaces 8.0
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Parking Type Common, Gravel, Off-Street Parking
Building
Lot Description Corner, Level Lot
Story 2
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by KELLER WILLIAMS REAL ESTATE