INVESTORS: This five-unit, mixed residential / commercial building has a cap-rate of 6.8%, bringing in a gross rent of $7,100 a month (although this can be increased if the residential units are updated and the back detached properties designation changes). The entire unit is currently rented to a barber shop for $1,775 and a waxing studio for $850. The upstairs apartments are both two bed, one baths rented for $1,525 and $1,425. In the rear is an additional detached property that is currently used as a residential unit but can be converted into a commercial space (medical is approved zoning) for $1,525. All units have their own boilers and pay for their own utilities. The properties have 26-27 parking spots and are right on the corner of a major junction, so have plenty of curbside visibility. Total gross rent is $85,200 and expenses are $26,836. Included in expenses are the following: Professionals Fees ( Fire Alarm Inspection & Monitoring).
2407205R
Single Family, Colonial, 2 Story
6
Middlesex
5 Full
0.37
Acres
Public Water
2
Wood Siding
Public Sewer
5
none
Cable Available, Natural Gas Available, Natural Gas Connected
Cable Available, Natural Gas Connected, Natural Gas Available
School Information
South Plainfield Borough Schoo
Bathrooms
5
Total:5
Detailed Room Information
- Kitchen
- Dishwasher, Microwave, Refrigerator
Interior Features
- Appliances
- Dishwasher, Dryer, Microwave, Refrigerator, Washer, Water Heater
- Flooring
- Ceramic Tile, Carpet
- Cooling
- Window Unit(s)
- Heating
- Electric Heating. Baseboard.
- Plumbing
- Electric Water Heater
- Basement
- Full, None
Exterior / Lot Features
- Parking
- Additional Parking, Open.
- Roof
- Asphalt
- Lot Dimensions
- 0.00 x 0.00
- Zoning
- OBC1
Financial Considerations
$225,000
Fee Simple
2200065000000002
$14,839
Arrows indicate 90 day trend
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