1 Memorial Parkway

Phillipsburg, NJ 08865

$765,000
Last Sold Price
9
Beds
7
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

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...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!
  1. Listed by RICHARD SHAFER • KELLER WILLIAMS REAL ESTATE

Property Details for 1 Memorial Parkway

Directions
From Free Bridge head on N. Main St / Broad St, right on Memorial Pkwy, prop on left. Rt-22 W, take last RH exit before toll bridge, prop on right.
Days On Market
32
LISTING UPDATED: 12/06/2024 12:14 AM

Property Details for 1 Memorial Parkway

StatusSold
MLS #3925089
Days on Market32
Taxes$14,169 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built-
Lot Size0.14 AC / 6,098 SF
CountyWarren County

Building Information for 1 Memorial Parkway

Stories-Residences4Year Built-Building Size-Lot Size0.14 AC / 6,098 SF

Property Information for 1 Memorial Parkway

Summary
Location and General Information
  • Zoning: B-1
  • Middle/Jr High School: PHILIPSBRG
  • Grade School: PHILIPSBRG
  • High School: PHILIPSBRG
  • Active Days on Market: 33
  • County #: Warren
  • Town Name: Phillipsburg Town
  • Block Identifier: 205
  • Listing Type: Exclusive Right to Sell
  • Color of Building: Blue
  • Town #: 3019.0
  • # Parking Spaces: 8
  • County Or Parish: Warren
  • Street Name: Memorial Parkway
  • Zip Code: 08865-1284
  • Total Units: 4
Taxes and HOA Information
  • Assess Total Tax: *
  • Assess Amt Land Tax: *
  • Assess Amt Bldg Tax: *
  • Block ID Tax: *
  • Acres Tax: *
  • County Tax: *
  • Tax Amount: $14,169
  • Street name Tax: *
  • Zip Code Tax: *
  • Street # Tax: *
  • City Tax: *
  • Tax Amount Tax: *
  • Assessment Total: 337700.0
  • Tax ID For Property: 3019-00205-0000-00007-0000-
  • Tax Rate Amount: $4
  • Tax Rate Tax: *
  • Tax Rate Year: 2023
  • Tax Year: 2023
  • Tax Year Tax: *
  • Lot ID Tax: *
  • Lot Size Tax: *
Parking
  • Parking/Driveway Description: Common, Crushed Stone, Off-Street Parking, On-Street Parking
Property
Lot Information
  • Lot Description: Corner, Level Lot
  • Lot Identifier: 7
  • Approximate Lot Size: .137 ACRE
  • Total Acres: 0.14
  • Construction Date/Year Built: 0
  • Construction Date/Year Built Des: Unknown
Property and Assessments
  • Assessment Bldg: 289400.0
  • Assessment Land: 48300.0
  • Farm Assessment: No
Utilities
  • Cooling: Ceiling Fan
  • Services: Cable TV Available, Garbage Included
  • Utilities: Electric, Gas-Natural
  • Water: Public Water
  • Water Heater: Gas
  • Heating: 4 Units, Baseboard - Hotwater, Multi-Zone
  • Fuel Type: Gas-Natural
  • Sewer: Public Sewer
Interior and Exterior Features
Exterior Features
  • Exterior Description: Vinyl Siding
  • Exterior Features: Curbs, Sidewalk, Storm Door(s), Storm Window(s)
Interior Features
  • Interior Features: Carbon Monoxide Detector, Carpeting, Fire Alarm Sys, Fire Extinguisher, Smoke Detector, Vinyl-Linoleum Floors
  • Roof Description: Asphalt Shingle
  • Basement: Yes
  • Basement Description: Unfinished
  • Easement: Unknown
Multi Family
Unit 1 Information
  • Unit 1 Appl/Equip: Carbon Monoxide Detector, Fire Alarm System, Range/Oven - Gas, Smoke Detector
  • Unit 1 Baths: 1.0
  • Unit 1 Bedrooms: 1
  • Unit 1 Fireplaces: 0.0
  • Unit 1 Handicap Modified: No
  • Unit 1 Lease Expiration: 07-31-2025
  • Unit 1 Levels: 1.0
  • Unit 1 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Water, Tenant Pays Electric
  • Unit 1 Rent: 1045.0
  • Unit 1 Room Description: Attic, Eat-In Kitchen, Laundry Room, Living Room, Master Bedroom, Storage
  • Unit 1 Rooms: 3.0
  • Unit 1 Security Deposit: 1050.0
  • Unit 1 Sq Ft: 0.0
Unit 2 Information
  • Unit 2 Appl/Equip: Carbon Monoxide Detector, Fire Alarm System, Range/Oven - Gas, Smoke Detector
  • Unit 2 Baths: 1.0
  • Unit 2 Bedrooms: 3
  • Unit 2 Fireplaces: 0.0
  • Unit 2 Handicap Modified: No
  • Unit 2 Lease Expiration: 03-31-2025
  • Unit 2 Levels: 2.0
  • Unit 2 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Water, Tenant Pays Electric
  • Unit 2 Rent: 1250.0
  • Unit 2 Room Description: Attic, Bedrooms, Eat-In Kitchen, Living Room, Storage
  • Unit 2 Rooms: 6.0
  • Unit 2 Security Deposit: 1050.0
  • Unit 2 Sq Ft: 0.0
Unit 3 Information
  • Unit 3 Appl/Equip: Carbon Monoxide Detector, Fire Alarm System, Range/Oven - Gas, Smoke Detector
  • Unit 3 Baths: 1.0
  • Unit 3 Bedrooms: 1
  • Unit 3 Fireplaces: 0.0
  • Unit 3 Handicap Modified: No
  • Unit 3 Lease Expiration: 07-31-2025
  • Unit 3 Levels: 1.0
  • Unit 3 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Water, Tenant Pays Electric
  • Unit 3 Rent: 1000.0
  • Unit 3 Room Description: Eat-In Kitchen, Living Room, Master Bedroom, Storage
  • Unit 3 Rooms: 3.0
  • Unit 3 Security Deposit: 1275.0
  • Unit 3 Sq Ft: 0.0
Unit 4 Information
  • Unit 4 Appl/Equip: Carbon Monoxide Detector, Fire Alarm System, Range/Oven - Gas, Smoke Detector
  • Unit 4 Baths: 1.0
  • Unit 4 Bedrooms: 1
  • Unit 4 Fireplaces: 0.0
  • Unit 4 Handicap Modified: No
  • Unit 4 Lease Expiration: 03-31-2025
  • Unit 4 Levels: 1.0
  • Unit 4 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Water, Tenant Pays Electric
  • Unit 4 Rent: 1050.0
  • Unit 4 Room Description: Attic, Eat-In Kitchen, Living Room, Master Bedroom, Storage
  • Unit 4 Rooms: 3.0
  • Unit 4 Security Deposit: 1042.0
  • Unit 4 Sq Ft: 0.0
Multi-Family Information
  • Unit Style: 2-Two Story
Income & Expenses Information
  • Total Operating Expense: $24,663.00
  • Expenses Include: Cold Water, Gas, Insurance, Taxes
  • Net Operating Income: $58,049.00
  • Gross Operating Income: $82,712.00
Rental
Rental Information
  • Home Warranty: false

Property History for 1 Memorial Parkway

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1 Memorial Parkway

This home is within Phillipsburg School District.
Rating
School
Type
Grades
Distance
Public - K to 2
Public - 6 to 8
Public - 9 to 12
Public - PK to 1
Rating
School
Distance
Philipsburg Primary School
PublicK to 2

Phillipsburg Middle School
Public6 to 8

Phillipsburg High School
Public9 to 12

Phillipsburg Early Child
PublicPK to 1

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KELLER WILLIAMS REAL ESTATE, RICHARD SHAFER

The data relating to the real estate for sale on this website comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than (insert office name) aremarked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. All information deemed reliable but not guaranteed. Last date updated: 12/22/2024 12:55 AM. Source: New Jersey Multiple Listing Service, Inc. © 2024 New Jersey Multiple Listing Service, Inc. All rights. The data relating to the real estate for sale and sold listing information on this website comes from the New Jersey Multiple Listing Service, Inc. Virtual Office Website (VOW) program. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. Sold listings may have been listed and/or sold by a real estate brokerage other than (insert office name). All information deemed reliable but not guaranteed. NLMLS makes no representation or warranty regarding the accuracy of the data. This data and information is protected under federal copyright laws which prohibit the unauthorized copying or alternation of all or any part of copyrighted materials, including certain compilations of data and information. Copyright violators may be subject to severe fines and penalties under federal law. Source: New Jersey Multiple Listing Service Inc. Last date updated: 12/22/2024 12:55 AM © 2024 New Jersey Multiple Listing Service Inc. All rights reserved.