NJ > Phillipsburg Town
Phillipsburg Town, NJ 08865,774 S Main St
Phillipsburg Town, NJ 08865,774 S Main St
Phillipsburg Town, NJ 08865,774 S Main St
24
See all 24 photos
$886,900
Est. payment /mo
Save
12 BD
5.5 BA
10,018 Sqft Lot
Active

774 S Main St Phillipsburg Town, NJ 08865

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Isaac De Castro

Isaac De Castro

+1(646) 626-7901

UPDATED:

09/10/2024 10:13 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 3922112

Style See Remarks

Bedrooms 12

Full Baths 5

Half Baths 1

Annual Tax Amount $13,200

Tax Year 2023

Lot Size 10,018 Sqft

Property Description

$1.05M property is on sale for only $886,900! Fantastic investment opportunity in the heart of Phillipsburg, NJ! This legally recognized 5-unit property offers exceptional value with an impressive 8% cap rate. Situated on a spacious lot on S Main St, the property consists of two buildings on one tax record: one with 3 units and the other with 2 units. All units are currently 100% occupied, with some tenants on Section 8, providing steady rental income.One standout feature is the recently renovated unit, which boasts 4 legal bedrooms and a finished attic that can be converted into a 5th bedroom, further enhancing the property's value. This building includes (1) 1bed, (2) 2bed, (1) 3 bed, (1) 4bed units. Tenants cover their own utilities, including water, making for a hassle-free investment. Monthly gross income is $7825, annual gross income is $93,900. Annual property taxes are $13,200 and property insurance is $5500. The property benefits from affordable real estate taxes and has recently been appraised at $1.05M as-is. With potential to increase rents to match market rates, this cash-flowing asset is an ideal opportunity for savvy real estate investors. Don't miss out on this unique chance to own a multifamily gem in a growing area!

Location

State NJ

County Warren

Rooms

Basement Unfinished

Interior

Heating Electric, Gas-Natural

Cooling Wall A/C Unit(s)

Heat Source Electric, Gas-Natural

Exterior

Exterior Feature Aluminum Siding

Roof Type Asphalt Shingle

Parking Type Off-Street Parking

Building

Sewer Public Sewer

Water Public Water

Architectural Style See Remarks

Others

Senior Community No

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by REAL

GET MORE INFORMATION

Isaac De Castro

Real Estate Advisor | 3561456; 1750974; 10401278264

+1(646) 626-7901

Full Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.

Go tour this home

774 S Main St

QUICK SEARCH