427 E Central Ave - Apartments FOR SALE


Phillipsburg, NJ 08865
$999,900 USD
427 E Central Ave, Phillipsburg, NJ for Sale
$999,900 USD
Apartments - FOR SALE
1/39
null | 8.9% Cap Rate

427 E Central Ave
Phillipsburg, NJ 08865


HIGHLIGHTS

  • Newly Renovated in 2024 - Permitted
  • Brand New Roof
  • New Siding and Decking
  • Freshly Landscaped with Attractive Hardscaping
  • Gravel Parking Lot
  • Low Maintenance, Turn-Key Investment Opportunity

OVERVIEW

Discover an EXCEPTIONAL INVESTMENT OPPORTUNITY with this Beautifully Newly 2024 REMODELED 5-unit MULTI-FAMILY APARTMENT BUILDING. Ideally situated in DESIRABLE Alpha Boro, this apartment building features 3- 1 Bedroom, 1- 2 Bedroom and 1- 3 Bedroom apartments. With Modern Upgrades throughout, the building boasts a BRAND NEW ROOF, NEW WATER HEATERS, NEW carpet and LVP, updated baths, FRESH PAINT and contemporary kitchens complete with NEW CABINETS, COUNTERTOPS, and STAINLESS-STEEL APPLIANCES. The exterior shines with NEW VINYL SIDING, shutters, and a freshly painted block facade. Enjoy the benefits of a newly installed PAVER PATIO and a stone off-street PARKING LOT, providing ample parking for residents. Each apartment has its OWN ENTRANCE, ensuring privacy and independence. Separate electric meters make for easy management. Utilize the basement for additional storage or coin laundry to maximize profits! This TURNKEY investment property is ready for market-rate tenants, offering a hassle-free opportunity to capitalize on the thriving rental market. Don't miss out on this remarkable property that combines modern living with exceptional curb appeal! Currently 80% leased!

FOR SALE DETAILS

PRICE

$999,900 USD

PRICE/SF

$320 USD /SF

# OF UNITS

5

PRICE/UNIT

$199,980

CAP RATE

8.9%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1880

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

R-4

APN/PARCEL ID

02-00084-0000-00004

ASK ABOUT THIS PROPERTY

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