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About This Home
This 0-bedroom, 0-bathroom residential multi family at 305 S 2ND ST in Millville, NJ is listed for $289,900 ($150 per sqft). Built in 1917, the home offers 1,933 sqft of living space on a 0.23 acres lot.
TURNKEY CASHFLOWING TRIPLEX! This 3-unit property has two 2 bedroom, 1 bathroom units and one 1 bedroom, 1 bathroom unit. The two bedroom units are currently occupied while the 3rd is vacant. With just the two leased, the rent roll is $2,535.00 per month, and current 1 bedroom rents in Millville average an asking price of $1,100.00 or more.
With all three leased, an investor would expect gross rents of $43,620.00 annually, making this a very strong investment in a good location within a great rental market overall. Both currently leased units are month-to-month. All units have their own electric and gas meters for easy utility management.
In addition, the current lease includes a monthly water/sewer fee that generally covers the cost, leaving the landlord responsible for trash, taxes, and building insurance only, further increasing returns on a percentage and real dollar basis. This property is priced to move quickly to qualified buyers. If you've been looking for a strong and stable multi-family property to start, add to, or diversify your investment portfolio, this is a strong option. Take a look today!
Key Features
- Built in 1917
- 0.23 acre lot
Property Details
Monthly Cost Estimate
$1,550/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
305 S 2ND ST
Millville, NJ 08332
Property Details
Construction
Parking
Heating
Questions & Answers
This 0-bedroom, 0-bathroom residential multi family at 305 S 2ND ST is listed at $289,900 ($150/sqft). The estimated monthly payment is $1,256 based on 20% down at 6.5% interest.
Key features include: Built in 1917, 0.23 acre lot.
This property is listed by Michael DePalma and can be reached at 6095014162 or michael.depalma4@gmail.com.
