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Key Details
Sold Price $925,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 4,692 sqft
Price per Sqft $197
MLS Listing ID NJBL2051300
Sold Date 03/22/24
Originating Board BRIGHT
Year Built 1950
Annual Tax Amount $4,784
Tax Year 2022
Lot Size 3,672 Sqft
Acres 0.08
Property Description
Exceptional investment opportunity in Cinnaminson, NJ, situated on Broad Street – Prime location in proximity to downtown and the Riverline. Discover this six-unit property meticulously maintained and impressively presented property boasting a stellar rental track record over time.
This well kept six-unit building consists of spacious two bedroom apartments that can rent for as much as $1,500 per month, rent is significantly below prevailing market rates for the area. With long term tenants paying their own utilities, each unit has its own separate balcony and entrance, property features a shared rear parking lot. Many upgrades throughout including new hot water heaters and two newly renovated units.
Don't miss this golden opportunity for a savvy investment venture with incredible income potential and low overhead. Taxes are under $5,000 and a potential cap rate of 8.40%
Location
State NJ
County Burlington
Area Cinnaminson Twp (20308)
Zoning RES
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling None
Heat Source Natural Gas
Exterior
Garage Spaces 6.0
Water Access N
Accessibility None
Total Parking Spaces 6
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Cinnaminson Township Public Schools
Others
Tax ID 08-00402-00004
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Standard
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Bought with Wallace Chaves • Keller Williams Realty - Moorestown