774 S Main St
Phillipsburg Town, NJ 08865
Price: $886,900
GSMLS: 3922112Type: Multi-Family
Style: See Remarks
Total Units: 4
Beds: 12
Baths: 5 Full & 1 Half
Garage: No
Year Built: Unknown
Acres: 0.23
Property Tax: $13,200
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 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!
General Info
Style:
See Remarks
SqFt Building:
n/a
Total Rooms:
34
Basement:
Yes - Unfinished
Interior:
n/a
Roof:
Asphalt Shingle
Exterior:
Aluminum Siding
Lot Size:
n/a
Lot Desc:
n/a
Parking
Garage Capacity:
No
Description:
n/a
Parking:
Off-Street Parking
Spaces Available:
n/a
Unit 1
Bedrooms:
1
Bathrooms:
1
Total Rooms:
5
Room Description:
Bedrooms, Dining Room, Eat-In Kitchen, Family Room, Kitchen, Living Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 2
Bedrooms:
2
Bathrooms:
1
Total Rooms:
7
Room Description:
Attic, Bedrooms, Dining Room, Eat-In Kitchen, Kitchen, Living Room
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 3
Bedrooms:
2
Bathrooms:
1
Total Rooms:
5
Room Description:
Attic, Bedrooms, Dining Room, Living Room, Living/Dining Room
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 4
Bedrooms:
4
Bathrooms:
2
Total Rooms:
10
Room Description:
Attic, Bedrooms, Kitchen, Living/Dining Room, Pantry
Levels:
4
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Utilities
Heating:
Radiant - Hot Water
Heating Fuel:
Electric, Gas-Natural
Cooling:
Wall A/C Unit(s)
Water Heater:
n/a
Water:
Public Water
Sewer:
Public Sewer
Utilities:
n/a
Services:
n/a
School Information
Elementary:
n/a
Middle:
n/a
High School:
n/a
Community Information
County:
Warren
Town:
Phillipsburg Town
Neighborhood:
n/a
Financial Considerations
List Price:
$886,900
Tax Amount:
$13,200
Land Assessment:
$41,500
Build. Assessment:
$249,700
Total Assessment:
$291,200
Tax Rate:
4.20
Tax Year:
2023
Listing Information
MLS ID:
3922112
List Date:
09-04-2024
Days On Market:
62
Listing Broker:
REAL
Listing Agent:
George E. Mikhael
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: MorrisCountyLiving.com
