774 S Main St
Phillipsburg Town, NJ 08865-3324
- 12 beds
- 5.5 baths
- – sqft
- 10,019 sqft lot
- – on site
$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!
Listing courtesy of GSMLS / GEORGE E. MIKHAEL / REAL
Last checked:
Checking…
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Last updated Oct 12, 2024
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MLS# 3922112 —
The Building
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Unit Style:See Remarks
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Roof Description:Asphalt Shingle
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Exterior Description:Aluminum Siding
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Basement:Yes
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Total # of Units:4
Interior
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Total # of Rooms:34
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Basement Description:Unfinished
Location
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Directions:straight on S Main St it is on main st.
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Latitude:40.6814
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Longitude:-75.17871
The Property
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Lot Identifier:24
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Approx Lot Size:0 Sqft
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Total Acres:0 Sqft
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Easements:No
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Farm Assessment:No
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Assessment Land:41500
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Assess Amount Land Tax:*
Listing Agent
- Contact info:
- Office phone:
- (855) 450-0442
Taxes
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Tax ID For Property:3019-02505-0000-00024-0000-
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Tax Year:2023
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Tax Year:*
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Tax Rate:*
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Tax Rate Year:2023
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Tax Rate Amount:4.196
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Tax Amount:$13,200
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Lot ID Tax:*
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Lot Size Tax:*
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Acres Tax:$*
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Block ID Tax:*
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City Tax:$*
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County Tax:$*
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Zip Code Tax:*
Beds
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# of Bedrooms:12
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Unit 1 Bedrooms:1
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Unit 3 Bedrooms:2
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Unit 2 Bedrooms:2
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Unit 4 Bedrooms:4
Baths
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Total # of Baths:5.10
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Total # of Full Baths:5
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Total # of Half Baths:1
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Unit 1 Baths:1.0
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Unit 2 Baths:1.0
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Unit 3 Baths:1.0
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Unit 4 Baths:1.5
The Listing
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Home Warranty:No
Heating & Cooling
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Cooling:Wall A/C Unit(s)
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Heating:Radiant - Hot Water
Utilities
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Water:Public Water
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Fuel Type:Electric, Gas-Natural
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Sewer:Public Sewer
The Community
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Assessment Total:291200
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Assessment Total Tax:*
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Assessment Bldg:249700
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Assess Amount Building Tax:*
Parking
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Parking/Driveway Description:Off-Street Parking
Extra Units
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Unit 1 Levels:1
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Unit 2 Levels:2
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Unit 3 Levels:3
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Unit 4 Levels:4
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Unit 1 Rooms:5
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Unit 2 Rooms:7
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Unit 3 Rooms:5
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Unit 4 Rooms:10
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Unit 1 Handicap Modified:No
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Unit 2 Handicap Modified:No
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Unit 3 Handicap Modified:No
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Unit 4 Handicap Modified:No
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Unit 1 Room Description:Bedrooms, Dining Room, Eat-In Kitchen, Family Room, Kitchen, Living Room
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Unit 2 Room Description:Attic, Bedrooms, Dining Room, Eat-In Kitchen, Kitchen, Living Room
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Unit 3 Room Description:Attic, Bedrooms, Dining Room, Living Room, Living/Dining Room
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Unit 4 Room Description:Attic, Bedrooms, Kitchen, Living/Dining Room, Pantry
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Unit 1 Appliances/Equipment:Carbon Monoxide Detector, Range/Oven - Gas
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Unit 2 Appliances/Equipment:Carbon Monoxide Detector, Range/Oven - Gas
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Unit 3 Appliances/Equipment:Carbon Monoxide Detector, Range/Oven - Gas
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Unit 4 Appliances/Equipment:Carbon Monoxide Detector, Range/Oven - Gas
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
9/5/24
Sep 5, 2024
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Listed / Active | GSMLS | $886,900 |