1 Memorial Parkway
$765,000
9
7
—
—
—
Sold 12/5/24
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!
- 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 Market32
LISTING UPDATED: 12/06/2024 12:14 AM
Property Details for 1 Memorial Parkway
Status | Sold |
---|---|
MLS # | 3925089 |
Days on Market | 32 |
Taxes | $14,169 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family |
Year Built | - |
Lot Size | 0.14 AC / 6,098 SF |
County | Warren 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
Property History for 1 Memorial Parkway
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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.
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