308 5TH Street S, Millville, NJ 08332 is now new to the market!

by Larry DePalma 11/09/2023

308 5th Street S, Millville, NJ 08332
MultifamilySold
List Price $425,000
Sold Price $364,000
308 5th Street S
Millville, NJ 08332
Listed by: DePalma Realty, 8563646697
MLS: Bright MLS
2,944Sq Ft
Est. Mortgage
$2,294/mo

Prime Investment Opportunity - Fully Occupied 4-Unit Rental Property Welcome to this excellent investment opportunity! This fully occupied 4-unit rental property is a smart choice for investors looking for steady income in a sought-after location. Property Details: 1st Floor, Unit 308: 2BR - Monthly rent $1,150.00 2nd Floor, Unit 308: 2BR & Attic - Monthly rent $1,500.00 (tenant moving, new rent will be $1,600.00) 1st Floor, Unit 310: 2BR - Monthly rent $1,600.00 2nd Floor, Unit 310: 2BR & Attic - Monthly rent $1,450.00 Financials: Gross Rental Income: $68,400.00 per year Net Income: Approximately $52,571.00 per year Property Highlights: Tenants pay for their own utilities, reducing landlord expenses. Recent roof replacement on 308 1st floor front and back, and two new water heater's that are still under warranty reducing maintenance costs. Freshly painted apartments, enhancing the property's appeal. This property offers a solid income stream, and with the upcoming rent increase, it presents a potential for even higher returns. Located in a desirable area, it's an opportunity that shouldn't be missed. Contact us for more information and to schedule a viewing.

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About the Author
Author

Larry DePalma

Hi, I'm Larry DePalma and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I'd be honored to put my real estate experience to work for you.