1101 E 2Nd St Active Save Request In-Person Tour Request Virtual Tour
Plainfield City,NJ 07062
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,512 sqft
Price per Sqft $243
MLS Listing ID 3886503
Year Built 1935
Annual Tax Amount $14,698
Tax Year 2023
Lot Size 6,534 Sqft
Property Description
Just reduced. Cap rate is over 8.5%. All units are rented. Current rent roll is is approximately $12k per month. This property includes 2 residential units each consisting of 3 bdrm/1 bathroom apartments. An operating hair salon, smoke shop, biker's club, and a construction contractor's office. Enjoy the revenues with little or nor work as almost everything has been renovated. New HVAC system, new roof, boiler. Each unit as separate utilities. 3 units have brand new Central A/C. A dedicated 5 car parking lot is in the rear of the building. On-street parking is also available. The roof was replaced in 2021, so less than 3 years old. All retail/residential units were all renovated recently and so this is as turnkey as they come. Lots of storage in this building as there are several basements. The construction contractor's office is owned by the seller, so they can move if you would like to occupy this retail space or they can sign a lease agreement. Yearly gross income - $136k, Expenses - $42k, Net operating income = 94k
Location
State NJ
County Union
Zoning Commercial
Interior
Heating Gas-Natural
Cooling 3 Units
Flooring Tile, Wood
Equipment Appliances
Exterior
Exterior Feature Brick/Block, Vinyl Siding
Utilities Available Electric, Gas-Natural
Roof Type Flat
Building
Story 2
Sewer Public Sewer
Water Public Water