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225-231 Gibbon Street

SALEM, NJ 08079
  • $299,000
  • STATUS: Active Under Contract
  • ON SITE: 65 Days
  • ID#: NJSA2010698
Under Contract
UPDATED: 83 min ago
$299,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,380
    SQFT
  • $126
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1940
County:

School Ratings & Info

School District:

Description

Welcome to 225-231 Gibbon Street, Salem, NJ. This meticulously maintained property presents an exceptional investment opportunity with a smart and strategic approach. Comprising four 3-bedroom, 1-bath townhomes, this income-generating property offers a total of 12 bedrooms and 3 bathrooms across a generous 2380 square feet of living space.Nestled on a total lot size of 5118 square feet, the property boasts newer roofs, adding an invaluable layer of functionality . Each unit is currently occupied, with annual leases in place, ensuring a consistent stream of income for the savvy investor.Notably, three of the four of the townhomes have been recently updated, offering a blend of character and modern convenience. The property's impressive annual gross rental net of $56,760 and a remarkable 12.74% cap rate underscore its potential as a lucrative addition to any investment portfolio. Photos of 229 and 231 are prior to the recent current tenants' occupancy. Conveniently located in a convenient area, this property presents a rare opportunity to acquire a turnkey investment with strong rental history and promising returns. Don't miss the chance to own this income-generating gem in Salem, NJ. Schedule your showing today and seize this astute investment opportunity.

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Broc Schmelyun Team | RE/MAX. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-23T11:51:32.817.
www.soldbybroc.com/homes/149291224
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225-231 Gibbon Street SALEM, NJ 08079

  • Price: $299,000
  • Status: Active Under Contract
  • On Site: 65 Days
  • Updated: 83 min ago
  • ID#: NJSA2010698
0
Beds
0
Baths
0
½ Baths
0.12
Acres
2,380
SQFT
$126
$/SQFT
1940
Built
Neighborhood:
Salem City (21713)
County:
Salem
Area:
Salem City (21713)
School District:
Salem City Schools
Property Description
Welcome to 225-231 Gibbon Street, Salem, NJ. This meticulously maintained property presents an exceptional investment opportunity with a smart and strategic approach. Comprising four 3-bedroom, 1-bath townhomes, this income-generating property offers a total of 12 bedrooms and 3 bathrooms across a generous 2380 square feet of living space.Nestled on a total lot size of 5118 square feet, the property boasts newer roofs, adding an invaluable layer of functionality . Each unit is currently occupied, with annual leases in place, ensuring a consistent stream of income for the savvy investor.Notably, three of the four of the townhomes have been recently updated, offering a blend of character and modern convenience. The property's impressive annual gross rental net of $56,760 and a remarkable 12.74% cap rate underscore its potential as a lucrative addition to any investment portfolio. Photos of 229 and 231 are prior to the recent current tenants' occupancy. Conveniently located in a convenient area, this property presents a rare opportunity to acquire a turnkey investment with strong rental history and promising returns. Don't miss the chance to own this income-generating gem in Salem, NJ. Schedule your showing today and seize this astute investment opportunity.
Exterior Features

Architectural Style Traditional Construction Materials Vinyl Siding Garage YN No Parking Types On Street Pool No Pool Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 2380 Basement PartialUnfinished Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling None Exclusions Tenant property Fireplace YN No Heating Forced Air Heating YN Yes Single Room Units 0 Spa YN No Three Bedroom Units 4 Two Bedroom Units 0 Units Furnished None

Property Features

Acceptable Financing ConventionalCashFHA Accessibility Features None Central Air YN No Cooling Fuel None Existing Lease Type Yearly Foundation Details Brick/MortarStone Gross Income 56760.00 Heating Fuel Natural GasOil Hot Water Electric Insurance Expense 2932.00 Maintenance Expense 3200.00 Municipality SALEM CITY Navigable Water YN N Net Operating Income 38721.00 New Construction YN No Number Of Units Leased 4 Number Of Units Total 2 Number Of Units Vacant 0 Operating Expense 18039.00 Operating Expense Includes Insurance Original MLSNumber 802996211116 Owner Pays InsuranceRepairsPest ControlSewerTaxes - Real EstateWater Ownership Interest Fee Simple Pool Expense 0.00 Property Sub Type Quadruplex Rent Control YN No Sale Type Standard Sewer Public Sewer Structure Design Type Twin/Semi-Detached Tax Annual Amount 6721.00 Tax Lot 00022 Total Actual Rent 54000.00 Trash Expense 0.00 Vacation Rental YN No Water Source Public Zoning RES

Listing courtesy of Compass New Jersey, LLC - Moorestown: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Broc Schmelyun Team | RE/MAX. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-23T11:51:32.817.
 
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