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Key Details
Sold Price $168,350
Property Type Multi-Family
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 1,778 sqft
Price per Sqft $94
Subdivision None Available
MLS Listing ID 1002441246
Sold Date 03/01/17
Style Other
HOA Y/N N
Abv Grd Liv Area 1,778
Originating Board TREND
Year Built 1922
Annual Tax Amount $7,105
Tax Year 2016
Lot Size 5,000 Sqft
Acres 0.11
Lot Dimensions 40X125
Property Description
Great income opportunity for an investor. Triplex with 2 car garage has multiple potential income streams. First Floor front unit is a one bedroom unit with large kitchen, large living room and large dining room (was being used as a second bedroom, includes doors etc and could potentially be fully converted to a 2nd bedroom to maximize rental value) First Floor back unit is an efficiency unit with a full bath, small kitchen, and living/sleeping area. 2nd Floor unit is a 1 bedroom with separate living area, kitchen, and full bathroom. All tenants have basement access with washer's and dryers. Potential to create additional income by creating a coin-op laundry room that services the building. Additionally there is a two car garage that could easily be rented for 100 a month per bay for additional income. This building is full of potential but does need some tlc and is being sold strictly in as-is condition. Though it needs a few some cleaning up and updating, the following items have been completed to date: Recent improvements include a new (2014) gas fired, Crown boiler, a two ton central air conditioner servicing the 1 bed unit lower unit, three new hot water heaters, mostly all newer energy efficient replacement windows(2013). The following modifications could potentially make a significant change to the cash flow: Splitting the heaters and having each tenant pay their own heat, billing water and sewer to each tenant, adding coin op laundry, renting both garages out, updating the units to receive maximum rent. Price reflects a discount so that an investor can make the changes to make this an amazing building to have in any portfolio.
Location
State NJ
County Camden
Area Collingswood Boro (20412)
Zoning MUL
Rooms
Other Rooms Primary Bedroom
Basement Full
Interior
Hot Water Natural Gas
Heating Gas
Cooling Central A/C, Wall Unit
Fireplace N
Heat Source Natural Gas
Laundry Common
Exterior
Garage Spaces 4.0
Water Access N
Accessibility None
Total Parking Spaces 4
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Other
Additional Building Above Grade
New Construction N
Schools
Elementary Schools Mark Newbie
Middle Schools Collingswood
High Schools Collingswood
School District Collingswood Borough Public Schools
Others
Tax ID 12-00119-00009
Ownership Fee Simple
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Bought with Edward M Barski • Sold Pros Real Estate LLC