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Townhouse & Duplex (3 units total) 114 E Park Ave

3 Unit Apartment Building $429,000 ($143,000/Unit) Merchantville, NJ 08109

Investment Highlights

  • Conveniently situated near downtown Merchantville, just outside Philadelphia and close to Exit 4 of the NJ Turnpike and Route 38.
  • Features 4-5 bedrooms with potential additional bedroom in the attic; originally a duplex converted back to a single home
  • Each property has its own driveway and parking area for tenants, enhancing convenience and privacy.
  • Includes two attached properties: a spacious townhouse and an adjacent duplex, offering diverse rental opportunities.
  • The duplex includes a newly renovated 1-bedroom unit on the first floor and a large 2-bedroom, 2-story unit on the second floor.
  • Both properties feature a wrap-around front porch and backyard area, adding appeal for tenants.

Executive Summary

Excellent opportunity located close to downtown Merchantville on Park Ave. just outside of Philadelphia, close to Exit 4 of NJ Turnpike off Route 38. Two separate properties attached with large town house and adjacent duplex making a great rental property. The townhouse is 4-5 bedrooms with an attic that could be an additional bedroom and was a previous duplex turned back to single home. The adjacent duplex is 1 BR newly renovated on the bottom floor and very large 2 bedroom/ 2 story unit on the 2nd floor. The properties have separate driveways for tenants for parking area, wrap around front porch and backyard area. Newer roof, laundry hookups for tenants, separate basements on each property for storage/ utilities. The townhome and 2-bedroom unit are very large units and with updating would bring rent much higher to market value. Fully occupied with great rental history and turnkey property for your portfolio. The Sale includes `112 & 114 E. Park on separate block and lots.
Contact Jason Benstead for more information

Property Facts

Price $429,000
Price Per Unit $143,000
Sale Type Investment
No. Units 3
Property Type Multifamily
Property Subtype Apartment
Apartment Style Townhome
Building Class C
Lot Size 0.09 AC
Building Size 3,500 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1950/2023

Unit Amenities

  • Dishwasher
  • Washer/Dryer Hookup
  • Ceiling Fans
  • Eat-in Kitchen
  • Attic

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
4+2 1 - -
2+1 2 - -
1+1 3 - -
Walk Score ®
Very Walkable (79)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
  • Listing ID: 31978113

  • Date on Market: 5/31/2024

  • Last Updated:

  • Address: 114 E Park Ave, Merchantville, NJ 08109

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