Remarks

3-unit mixed use building in Millville's growing downtown, for less than $200,000.00! This is a steal of a deal with two store fronts and a 3 bedroom 1 bathroom apartment upstairs already renovated and rented. Upstairs brings in a gross annual rent of $18,900.00 per year. When rented, the two store fronts should bring in around $750.00 and $600.00 per month each based on market rents in the area, adding an additional $16,200.00 to the gross annual rent, totaling $35,100.00. What's even more remarkable is that this entire building has annual taxes less than $2,000.00 per year. The Cap Rate and Cash on Cash returns are both very attractive on a pro forma basis. Situated next to the phenomenal DC Gallery & Studio and across from the Village on High, this property is ready to take on new life with new ownership. The upstairs 3 bedroom apartment was recently completely rehabbed and a new gas boiler was installed for the building just a few days ago. Take advantage of this deal and be part of High Street before all the other development takes place and the barrier to entry becomes to high! With instant cash flow and potential to generate much more into the future, this building is a fantastic investment for both the new and experienced investor. Schedule a showing today!

Details

MLS#: NJCB2022650
Price: $199,900

Year Built: 1920

County: CUMBERLAND
Tax Fee: 1903.0