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Multi Family - Alpha, NJ 1140 East Blvd

2 Unit Apartment Building $449,000 ($224,500/Unit) 6.28% Cap Rate Phillipsburg, NJ 08865

Executive Summary

2 unit apartment building consisting of two, 2 bedroom 1 bath units. Both units are rented, both units are separately metered so tenants pay their own utilities. Building was completed renovated in 2010 and includes the following amenities; Washer & dryer in each unit, refrigerator, dishwasher and stove in kitchens, oak kitchen cabinets, tiled kitchens, tiled bathrooms and central Air & heat with each unit having its own thermostat and unit.

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income $34,176 $15.53
Other Income - -
Vacancy Loss - -
Effective Gross Income $34,176 $15.53
Taxes - -
Operating Expenses - -
Total Expenses $13,471 $6.12
Net Operating Income $20,705 $9.41

Financial Summary (Actual - 2023)

Gross Rental Income
Annual $34,176
Annual Per SF $15.53
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $34,176
Annual Per SF $15.53
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $13,471
Annual Per SF $6.12
Net Operating Income
Annual $20,705
Annual Per SF $9.41

Property Facts

Price $449,000
Price Per Unit $224,500
Sale Type Investment
Cap Rate 6.28%
No. Units 2
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.14 AC
Building Size 2,200 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1905/2010
Parking Ratio 1.82/1,000 SF

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 2 - -

zoning

Zoning Code R5 (Residential Multifamily)
R5 (Residential Multifamily)
  • Listing ID: 20246925

  • Date on Market: 7/11/2020

  • Last Updated:

  • Address: 1140 East Blvd, Phillipsburg, NJ 08865

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