2219 Park Ave, South Plainfield, NJ 07080 | Withdrawn

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Off-Market Call for Pricing

Call for Pricing
  • (0)
  • 4 Units
  • 4,050 Sq Ft
  • 16,117 Sq Ft
  • Unknown Cap Rate

Description

INVESTORS: This five-unit, mixed residential / commercial building has a cap-rate of 6.8%, bringing in a gross rent of $7,100 a month (although this can be increased if the residential units are updated and the back detached properties designation changes). The entire unit is currently rented to a barber shop for $1,775 and a waxing studio for $850. The upstairs apartments are both two bed, one baths rented for $1,525 and $1,425. In the rear is an additional detached property that is currently used as a residential unit but can be converted into a commercial space (medical is approved zoning) for $1,525. All units have their own boilers and pay for their own utilities. The properties have 21-23 parking spots and are right on the corner of a major junction, so have plenty of curbside visibility. Total gross rent is $85,200 and expenses are $26,836. Included in expenses are the following: Professionals Fees ( Fire Alarm Inspection & Monitoring)

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Amenities

Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt

Income

Rental Units


The income description goes here to explain

Expenses

Property Details

List Price $850,000
Property Type Other
Usable Sqft 4,050
Number of Stories 0 stories
Parking Spots 0 spots
Year Built 1970
Last Sold Unknown
Sold Price Unknown
APN # 220006500002
MLS # NJMX2006116
Property ID 320161702
Lot Sqft 16,117
Zoning OBC1
Total Units 4
Date Updated June 19, 2024
Date Created January 14, 2024
Unit # Beds Baths Current Rent Proforma Rent
Unit #1 $85,200 $0

Listing Provided By

Timothy Christopher Crew an agent of . Lic #1433029


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Data last updated: July 24, 2024.

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