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Salem 08079
225-231 GIBBON ST
$304,000
↓ $5K (1.6%)
Multifamily - For Sale

225-231 GIBBON ST

SALEM, NJ 08079
bedrooms
Studio
bathrooms
0 Bath
$1,493
Estimated Monthly

About This Property

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.
Unit Size
-
Days on Market
42 days
Land Size
0.12 acres
Price per sqft
-
Property Type
Multifamily
Property Taxes
$560
HOA Dues
-
Year Built
1940
Last updated: 2 days ago (Bright MLS #NJSA2010698)

Price History

Date / Event Date Event Price
May 28, 2024 Price Decreased $304,000
↓ $5K (1.6%)
Price Decreased
May 9, 2024 Price Decreased $309,000
↓ $6K (1.9%)
Price Decreased
May 1, 2024 Price Decreased $315,000
↓ $5K (1.6%)
Price Decreased
Apr 18, 2024 Listed by Compass New Jersey, LLC - Moorestown $320,000
Listed by Compass New Jersey, LLC - Moorestown
May 10, 2022 Sold $185,000
Sold
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Property Highlights

Parking Details
Parking Features: On Street
Interior Details

Interior Information

Living Area Square Feet Source: Assessor

Basement Information

Has Basement
Partial, Unfinished

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
5 Beds
3 Baths
3,162 ft²
$93/ft²
$295,000 Sep 30, 2022
$295,000 Feb 6, 2023
-
House
5 Beds
2 Baths
1,833 ft²
$134/ft²
$245,000 Aug 25, 2023
$245,000 Feb 23, 2024
-
Commercial
Loft
-
-
$299,000 Jun 27, 2023
-
-

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20220321
03/21/2022
Studio
-
2380 ft²
$99,000
bedrooms
Studio
bathrooms
-
square feet
2380 ft²
-
-
-
Vince Parenti
Keller Williams Realty Cumberland County

Building Info

225 Gibbon Street 225 Gibbon Street, Salem, NJ 08079
  • 1 Unit for Sale
More about this Building
225 Gibbon Street
Want to find out who owns 225 Gibbon Street, Salem, NJ 08079? Get detailed property transactions here .

About Salem


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