34 Oakland St - Apartments FOR SALE


Bridgeton, NJ 08302
$5,100,000 USD
215-531-7028
34 Oakland St, Bridgeton, NJ for Sale
$5,100,000 USD
Apartments - FOR SALE
1/13
null | 7.17% Cap Rate

34 Oakland St
Bridgeton, NJ 08302


HIGHLIGHTS

  • Strong Existing Cash Flow with Value-Add Potential
  • Close Proximity to Shopping, Dining, & Public Transit
  • Large 3 Bedroom Units, Mix of 1-2 Bathrooms

OVERVIEW

Marcus & Millichap is pleased to present 1102-1116 Highway 77 & 24-36 Oakland St, Bridgeton, NJ 08302, a collection of twenty-four single-family homes and one duplex located in Bridgeton, NJ. All units are consolidated onto two side-by-side parcels, creating a neighborhood feel. All units consist of three bedrooms and a mix of one and two bathrooms, depending on the renovation status of each unit. There are nine units fully renovated and seventeen currently not renovated. Each unit consists of approximately nine hundred square feet which does not include basement square footage. The investment provides an investor the opportunity to acquire twenty-six cash flowing units on day one, with tremendous upside potential, achievable by continuing the renovation across the remaining units. Each of the twenty six units includes a basement that either already has been, or potentially could be, renovated to include extra living space and a working second bathroom. The renovated units are fitted with modern finishes, vinyl plank flooring, and new insulation. Each unit has forced gas heat, separately metered and paid for by the tenant, as well as the electric. Residents enjoy easy access to State Routes 77 and 56 and incredibly easy access to shopping. There is an ALDI grocery store just a five-minute walk South of the property, and a Walmart just a six-minute walk North of the property. There is also a newly constructed Wawa directly across Maple Ave, a mere two-minute walk. Along with multiple other national retailers within similar walking distance of the property, there are also two NJ Transit stops located less than a five-minute walk from the property, the 553 and 410 lines. 553 takes riders into Camden County while the 410 takes commuters into Philadelphia. If commuting via car, residents can get to Philadelphia in an hour and Wilmington, DE in forty-five minutes. There is also room to build 1-2 more houses on the property!

FOR SALE DETAILS

PRICE

$5,100,000 USD

PRICE/SF

$185 USD /SF

# OF UNITS

26

PRICE/UNIT

$196,154

CAP RATE

7.17%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Carlls Corner Single Family Portfolio

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.18 AC

LAND SF

182,081 SF

ZONING

B2

APN/PARCEL ID

13-01209-0000-00001

ASK ABOUT THIS PROPERTY

Carson RooneyMarcus & MillichapMore Info
215-531-7028

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Carson RooneyMarcus & MillichapMore Info
215-531-7028

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.