$320,000
●
Multifamily -
For Sale
225-231 GIBBON ST
SALEM, NJ 08079
Studio
0 Bath
$1,572
Estimated Monthly
$0
HOA / Fees
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% 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.
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% 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
13 days
Land Size
0.12 acres
Price per sqft
-
Property Type
Multifamily
Property Taxes
$560
HOA Dues
-
Year Built
1940
Listed By
Last updated: 14 days ago (Bright MLS #NJSA2010698)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
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 |
Property Highlights
Parking Details
Parking Features: On Street
Interior Details
Interior Information
Living Area Square Feet Source: Assessor
Basement Information
Has Basement
Partial, Unfinished
Exterior Details
Property Information
Ownership Interest: Fee Simple
Year Built Source: Assessor
Building Information
Foundation Details: Brick/Mortar, Stone
Other Structures: Above Grade, Below Grade
Structure Type: Twin/Semi-Detached
Construction Materials: Vinyl Siding
Pool Information
No Pool
Lot Information
Tidal Water: N
Lot Size Dimensions: 64.00 x 80.00
Lot Size Source: Assessor
Land Information
Land Assessed Value: $85,500
Financial Details
County Tax: $0
County Tax Payment Frequency: Annually
City Town Tax: $0
City Town Tax Payment Frequency: Annually
Tax Assessed Value: $85,500
Tax Year: 2023
Tax Annual Amount: $6,721
Year Assessed: 2023
Utilities Details
Cooling Type: None
Heating Type: Forced Air
Cooling Fuel: None
Heating Fuel: Natural Gas, Oil
Hot Water: Electric
Sewer Septic: Public Sewer
Water Source: Public
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Sold
House
5
Beds
3
Baths
3,162 ft²
$93/ft²
$295,000
Sep 30, 2022
$295,000
Feb 6, 2023
-
Sold
House
5
Beds
2
Baths
1,833 ft²
$134/ft²
$245,000
Aug 25, 2023
$245,000
Feb 23, 2024
-
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
03/21/2022
|
|
Studio
|
-
|
2380 ft²
|
$99,000
Studio
-
2380 ft²
|
-
-
|
-
|
Vince Parenti
Keller Williams Realty Cumberland County
|