Properties

Description

Looking for a solid investment in a prime location? This fully leased 7-unit multi-family gem is minutes away from Phillipsburg Shopping, Easton's Upscale Restaurants, and annual vibrant themed festivals, making it a hotspot for tenants! With an impressive 8.52% cap rate and an 11.9% GRM, this property offers incredible income potential. Each of the 7 units boasts cozy living spaces with plenty of charm. Plus, the tenants stay an average of over 5 years! That's stability you can count on. Located on a corner lot with convenient private off-street parking, making it even more attractive to renters. To top it off, over $50,000 in improvements have been made in the last two years, including a new roof and the replacement of two boilers. Whether you're a seasoned investor or just starting out, this property checks all the boxes. With public transportation, major highways, and Lafayette College in Easton nearby, this location can't be beaten. Plus, with the potential for DSCR loan qualification, the financing options are appealing. Don't miss out on this great investment opportunity! Ask your Realtor today to schedule a tour to see this incredible positive cash-flowing property!

Features

  • Heating System : 4+ Units, Baseboard - Hotwater, Multi-zone
  • Cooling System : Ceiling Fan
  • Basement : Unfinished
  • Roof Deck : Asphalt Shingle
  • Parking : 8
  • Parking Description: Common, Crushed Stone, Off-Street Parking, On-Stre
  • Interior Features: Carbon Monoxide Detector, Carpeting, Fire Alarm Sy
  • Exterior Features: Curbs, Sidewalk, Storm Door(s), Storm Window(s)
  • Lot Description: Corner, Level Lot
  • Tax Assessed Valuation: 337700
  • Sewer: Public Sewer
  • Water: Public Water

Appliances

  • Utilities: Electric, Gas-Natural

Additional Info

  • Office Name: KELLER WILLIAMS REAL ESTATE
  • Office MLS ID: 4886
  • Agent ID: 397629
  • Tax: 14169
  • Tax Year: 2023
  • Application Fee: $0
  • Zoning: B-1

Multi-Family For Sale

For Sale
$695,000

1 Memorial Parkway, Phillipsburg Town, *

  • SQFT 0.14 Acre
  • Bedroom 9

Details

  • Property Type: Multi-Family
  • Listing Type: For Sale
  • Listing ID: 5312802
  • Price: $695,000
  • Bedrooms: 9
  • Bathrooms: 0
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 0
  • Year Built Description: Unknown
  • Lot Area: 0.14 Acre
  • Status: Active
  • Days On Market: 14

Contact Agent

Map

Address Map

  • Country US
  • County Warren
  • City Phillipsburg Town
  • Zipcode *
  • Street: Memorial Parkway
  • Street Number: 1
  • Street Direction: From Free Bridge head on N. Main St / Broad St, ri
  • Floor Number: 0
  • Longitude: W76° 48' 14.2''
  • Latitude: N40° 41' 49.8''
  • Internet Display Address: No
Property