3022 Haddonfield Rd
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3022 Haddonfield Rd
8 Unit Apartment Building $1,150,000 ($143,750/Unit) Pennsauken, NJ 08110
Investment Highlights
- Situated in a central location, this property is within just minutes of various major roads & bridges with easy access to Philadelphia!
- Each unit provides central AC as well as their own washer/dryer & access to private parking with plenty of spaces for each resident.
- Produce steady income with Fully occupied units. An all-time high rental market curates the prime time to invest!
Executive Summary
Discover an outstanding investment opportunity with this well-maintained 8-unit property offering both value and versatility! The property features six fully-rented residential apartments (x5 2BD/1BTH and x1 1BD/1BTH) as well as two expansive garages/storage units, each with rolling garage doors. Currently generating $9,735 in monthly rental income with potential for increased revenue. Each apartment unit offers central AC, separate gas & water & private washer/dryer to ensure comfort and convenience for the tenants. Ample private off-street parking is also provided. Located in Pennsauken, the property offers convenient access to both South Jersey & Philadelphia, creating an attractive option for renters. Situated right on the border of Pennsauken & Cherry Hill - enjoy the benefits of Cherry Hill without paying their high taxes! You truly can't beat the ease of being less than three miles from the Betsy Ross Bridge. The area delivers an affordable lifestyle without sacrificing access to both suburban & city living. This multifamily property represents incredible investment prospects with high demand, low vacancy rates and ever-growing possibilities for appreciation. The possibilities afforded by this property are endless, truly making it an excellent addition to any portfolio!
**Please reach out to listing agent to schedule - appointment must be confirmed by 6p the day before. Group showings ONLY. The next proposed Group Showing (not an open house), will be Mon 1/6 @ 3p.**
**Please reach out to listing agent to schedule - appointment must be confirmed by 6p the day before. Group showings ONLY. The next proposed Group Showing (not an open house), will be Mon 1/6 @ 3p.**
Data Room Click Here to Access
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$110,979
|
$13.36
|
| Taxes |
$15,150
|
$1.82
|
| Operating Expenses |
$13,980
|
$1.68
|
| Total Expenses |
$29,130
|
$3.51
|
| Net Operating Income |
$81,849
|
$9.86
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $110,979 |
| Annual Per SF | $13.36 |
| Taxes | |
|---|---|
| Annual | $15,150 |
| Annual Per SF | $1.82 |
| Operating Expenses | |
|---|---|
| Annual | $13,980 |
| Annual Per SF | $1.68 |
| Total Expenses | |
|---|---|
| Annual | $29,130 |
| Annual Per SF | $3.51 |
| Net Operating Income | |
|---|---|
| Annual | $81,849 |
| Annual Per SF | $9.86 |
Property Facts
| Price | $1,150,000 | Building Class | C |
| Price Per Unit | $143,750 | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 8,304 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1987 |
| Apartment Style | Low Rise | Parking Ratio | 1.45/1,000 SF |
| Price | $1,150,000 |
| Price Per Unit | $143,750 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 8,304 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 1.45/1,000 SF |
Unit Amenities
- Washer/Dryer
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,185 | 700 |
| 2+1 | 5 | $1,533 | 950 |
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PROPERTY TAXES
| Parcel Number | 27-03601-0000-00004 | Total Assessment | $355,000 (2024) |
| Land Assessment | $84,000 (2024) | Annual Taxes | $15,150 ($1.82/SF) |
| Improvements Assessment | $271,000 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
27-03601-0000-00004
Land Assessment
$84,000 (2024)
Improvements Assessment
$271,000 (2024)
Total Assessment
$355,000 (2024)
Annual Taxes
$15,150 ($1.82/SF)
Tax Year
2023
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3022 Haddonfield Rd
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