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$ 2,400,000
Est. payment | /mo
2,613 Sqft Lot
$ 2,400,000
Est. payment | /mo
2,613 Sqft Lot
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3991035
Year Built 1953
Annual Tax Amount $18,177
Tax Year 2024
Lot Size 2,613 Sqft
Property Sub-Type Mixed Use
Property Description
Exceptional investment opportunity! This mixed-use property offers strong income potential with both residential and commercial tenants. The building features four 2-bedroom apartments currently rented below market at $4,900/month, with the ability to increase to approximately $8,000/month at market rents. The commercial portion includes a storefront ($2,500/month), a bar/restaurant leased at $4,500/month under a 5-year lease (plus an additional $2,000/year collected for property taxes, with separate utilities), and a Verizon antenna lease generating $11,000/year. Total current monthly income is approximately $12,816, with the potential to reach $19,500, translating to a Gross Operating Income (GOI) $153,792 annually. Estimated expenses include taxes ($18,177-$25,177), insurance ($12,695), and water ($1,500/year). The Net Operating Income (NOI) is currently estimated at $121,420.
Location
State NJ
County Union
Zoning Residential
Rooms
Basement Unfinished
Interior
Heating Gas-Natural
Cooling No Cool, Window A/C(s)
Flooring Tile, Wood
Equipment Appliances, Fire Alarm, Kitchen Area, Restrooms - Private, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
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Katora Yim
REALTOR® | Lic# 9804062