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Key Details
Sold Price $326,000
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 1,792 sqft
Price per Sqft $181
MLS Listing ID NJAC2009632
Sold Date 10/20/23
Style Ranch/Rambler,Side-by-Side
Abv Grd Liv Area 1,792
Originating Board BRIGHT
Year Built 1970
Annual Tax Amount $7,166
Tax Year 2022
Lot Size 9,000 Sqft
Acres 0.21
Lot Dimensions 75.00 x 120.00
Property Description
Multiple offers received. Highest and best by 5pm Friday 9/15.
*AFFORDABLE LIVING IN SOMERS POINT* - DUPLEX, 2 BEDROOM 1 BATH
Rent prices are extreme and won't be changing any time soon. The solution?Purchase a duplex and live in one unit, rent out the other. Take a look at this side-by-side rancher on a quiet street in popular Somers Point. Unit A is vacant and move-in ready - 2 bedrooms, 1 bath and newly renovated. The other unit has an identical layout and is occupied by a long-term tenant for $1500 a month (who always pays on time). Enjoy a fenced in yard, off-street parking, in-unit laundry, dishwasher, gas heat, central A/C, and more.
*INVESTORS - POTENTIAL 9-10% CAP RATE* -
Tenants pay for all utilities including water, lawn care and snow removal. Landlord's expenses are only $7k taxes, $1200 insurance, and sewer. Occupied unit has yearly lease in place with approximately 11 months left - ideal long-term tenant that always pays on time, $1500 a month. The empty unit is newly renovated and could rent easily for $1700 a month. Easy money so act fast before it's too late.
* As-is Sale. A/C isn't working in front unit *
Location
State NJ
County Atlantic
Area Somers Point City (20121)
Zoning R-1
Interior
Interior Features Ceiling Fan(s), Combination Dining/Living, Dining Area, Entry Level Bedroom, Family Room Off Kitchen
Hot Water Electric
Heating Forced Air
Cooling Central A/C, Window Unit(s), Multi Units, Programmable Thermostat
Flooring Laminate Plank
Equipment Built-In Microwave, Dishwasher, Dryer, Exhaust Fan, Oven - Single, Refrigerator, Stove, Washer, Water Heater
Fireplace N
Appliance Built-In Microwave, Dishwasher, Dryer, Exhaust Fan, Oven - Single, Refrigerator, Stove, Washer, Water Heater
Heat Source Natural Gas
Exterior
Garage Spaces 3.0
Water Access N
Street Surface Black Top
Accessibility 2+ Access Exits, Level Entry - Main
Total Parking Spaces 3
Garage N
Building
Lot Description Rear Yard, SideYard(s)
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Ranch/Rambler, Side-by-Side
Additional Building Above Grade, Below Grade
New Construction N
Schools
Elementary Schools Dawes Ave
Middle Schools Jordan Rd
High Schools Mainland Regional H.S.
School District Somers Point
Others
Tax ID 21-00723-00018
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional, FHA, VA
Listing Terms Cash, Conventional, FHA, VA
Financing Cash,Conventional,FHA,VA
Special Listing Condition Standard
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Bought with Jill M Leap • Balsley-Losco Realtors
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