774 South Main Street
$886,900
12
5
1
—
—
—
Description
$1.05M property is on sale for only $886,900! Fantastic investment opportunity in the heart of Phillipsburg, NJ! This legally recognized 5-unit property offers exceptional value with an impressive 8% cap rate. Situated on a spacious lot on S Main St, the property consists of two buildings on one tax record: one with 3 units and the other with 2 units. All units are currently 100% occupied, with some tenants on Section 8, providing steady rental income. One standout feature is the recently renovated...$1.05M property is on sale for only $886,900! Fantastic investment opportunity in the heart of Phillipsburg, NJ! This legally recognized 5-unit property offers exceptional value with an impressive 8% cap rate. Situated on a spacious lot on S Main St, the property consists of two buildings on one tax record: one with 3 units and the other with 2 units. All units are currently 100% occupied, with some tenants on Section 8, providing steady rental income. One standout feature is the recently renovated unit, which boasts 4 legal bedrooms and a finished attic that can be converted into a 5th bedroom, further enhancing the property's value. This building includes (1) 1bed, (2) 2bed, (1) 3 bed, (1) 4bed units. Tenants cover their own utilities, including water, making for a hassle-free investment. Monthly gross income is $7825, annual gross income is $93,900. Annual property taxes are $13,200 and property insurance is $5500. The property benefits from affordable real estate taxes and has recently been appraised at $1.05M as-is. With potential to increase rents to match market rates, this cash-flowing asset is an ideal opportunity for savvy real estate investors. Don't miss out on this unique chance to own a multifamily gem in a growing area!
- Listed by GEORGE E. MIKHAEL • REAL
Property Details for 774 South Main Street
Directions
straight on S Main St it is on main st.
Days On Market6
LISTING UPDATED: 09/10/2024 07:13 AM
Property Details for 774 South Main Street
Status | Active |
---|---|
MLS # | 3922112 |
Days on Market | 80 |
Taxes | $13,200 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family |
Year Built | - |
Lot Size | 0.23 AC / 10,018 SF |
County | Warren County |
Building Information for 774 South Main Street
Stories-Residences4Year Built-Building Size-Lot Size0.23 AC / 10,018 SF
Property Information for 774 South Main Street
Property History for 774 South Main Street
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 774 South Main Street
This home is within Phillipsburg School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | 3 to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | PK to 1 |
Rating | School | Distance |
---|---|---|
Green Street Elementary School Public3 to 5 | ||
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.