5 unit multi family, commercial store front, walking distance to train station

ID #:529079
$659,900
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Seller will contribute up to $0 toward closing cost.
S. Broadway
South Amboy, NJ 08879 
Class: B
Restrooms: 5.5
Lot Size: .1148
Type: Multi-Family Residential
Parking Spaces: 6
Available Sq Ft: 3,420
Total Stories: 3
Floor Location: 1
Current Occupancy: Occupied
Telephone 732-882-8198
EMail contact frankiemoose@kw.com
Sale Type:Resale

Presented By:

Keller Williams West Monmouth Frank Musarra

Phone: (732) 536-9010
Alt: (732) 882-8198
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More About Frank Musarra Keller Williams West Monmouth

Property Details

Description:

This 5 unit multi family is fully rented and all units are leased under market value. Each unit pays their own electric and gas while landlord pays water. Also included is a 1000 sq ft commercial space which faces South Broadway and is walking distance to train station. The space includes a bathroom, kitchen and office. This space is currently being used by owner and is estimated to rent for $1,200/mo. Current income is broken down as follows: Commercial space 1st flr: Owner Occupied (market value: $1200/mo.) Apartment 1 1st flr efficiency unit: $625/mo. (market value: $700/mo.) Apartment 2 1st flr 2 bedroom unit: $955/mo. (market value: $1200/mo.) Apartment 3 2nd flr 1 bedroom unit: $890/mo. (market value: $975/mo.) Apartment 4 2nd flr 1 bedroom unit: $820/mo. (market value: $950/mo.) Apartment 5 3rd flr 1 bedroom unit: $725/mo. (market value: $850/mo.) Current gross income: $62,580/annually Market value gross income: $70,500/annually Property expenses Property taxes: $8,800/annually sewer: $1,200/annually Water: $1,000/annually maintenance: $1,800/annually insurance: $3,500/annually total annual expenses: $16,300
Current Use:Apartments
Building Type: Apartments

Features

Property Features:

  • Display Window
  • Individual Electric Meter
  • Individual Gas Meter
  • Master Water Meter

Lot Features:

  • Retail Frontage
  • Downtown
  • Curbs-Walks
  • Street Lights
This property is listed with an agency, such as a real estate agent, broker or agency representative.
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