Thank you
Jennifer J Rothenberger
Compass New Jersey, LLC - Moorestown
856-214-2639
Welcome to 225-231 Gibbon Street, Salem, NJ. This meticulously maintained property presents an exceptional investment opportunity with a smart and strategic approach. Comprising four 3-bedroom, 1-bath townhomes, this income-generating property offers a total of 12 bedrooms and 3 bathrooms across a generous 2380 square feet of living space. Nestled on a total lot size of 5118 square feet, the property boasts newer roofs, adding an invaluable layer of functionality . Each unit is currently occupied, with annual leases in place, ensuring a consistent stream of income for the savvy investor. Notably, three of the four of the townhomes have been recently updated, offering a blend of character and modern convenience. The property's impressive annual gross rental net of $56,760 and a remarkable 12% cap rate underscore its potential as a lucrative addition to any investment portfolio. Photos of 229 and 231 are prior to the recent current tenants' occupancy. Conveniently located in a convenient area, this property presents a rare opportunity to acquire a turnkey investment with strong rental history and promising returns. Don't miss the chance to own this income-generating gem in Salem, NJ. Schedule your showing today and seize this astute investment opportunity.
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Water Source : Public
Basement Description: Partial,Unfinished
Cooling: None
Heating: Forced Air
Cooling Fuel: None
Heating Fuel: Natural Gas,Oil
Year Built: 1940
Structure: Twin/Semi-Detached
New Construction: No
Total Units: 2
Built: 1940
Construction Material: Vinyl Siding
Foundation/Basement: Brick/Mortar,Stone
Architecture: Traditional
Pool/Private: No Pool
Pool: No Pool
Sewer: Public Sewer
Water Heat: Electric
Lot Size: 5,118
Dimensions: 64.00 x 80.00
Lot Size (Acres): 0.12
Architectural Style: Traditional
Main Square Feet: 5,118
SQ ft: 2,380
SQ ft (Living Area): 2,380
Total Lot SQ ft: 5,118
Financing: Conventional,Cash,FHA
Appx. Lot Dimensions: 64.00 x 80.00
Total Acreage: 0.12
New Construction: No
Type: Traditional
Possession: 31-60 Days CD
Days Of Market: 1
Annual Tax: $6,721
Tax Year: 2023
Total Taxes Payment Frequency: Annually
31-60 Days CD
Taxes Assessment Amount: $85,500
Parking Type: On Street
Has Garage: N
Acceptable Financing: Conventional,Cash,FHA
Direction: Off of Hubble St
School District: SALEM CITY SCHOOLS
Water Source: Public
Sewer: Public Sewer
Cooling Fuel: None
Heating Fuel: Natural Gas,Oil
Hot Water: Electric
Direction: Off of Hubble St
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
BLOCK 53 LOTS 25.02/26 .., Salem, NJ,08079 | $1,375,000 | -- | -- | 4,869,572 | 4869572.4 Sqft |
Tilbury Road , Salem, NJ,08079 | $25,000 | -- | -- | 17,498 | 17498 Sqft |
183 E Broadway #C20, Salem, NJ,08079 | $95,000 | 2 | 1 | 1,001 | -- |
46 Walnut Street , Salem, NJ,08079 | $92,000 | 5 | 2.5 | -- | -- |
36 Cream Ridge Road , Salem, NJ,08079 | $995,000 | 3 | 2.0 | 1,864 | -- |
59 Chestnut Street , Salem, NJ,08079 | $150,000 | 4 | 1.5 | 1,416 | 5001 Sqft |
2 New Bridge Road #B9, Salem, NJ,08079 | $69,000 | 3 | 2.0 | -- | -- |
311 E Broadway , Salem, NJ,08079 | $99,000 | 2 | 1.0 | 1,168 | 2178 Sqft |
36 Elm Street , Salem, NJ,08079 | $75,000 | 2 | 1.0 | 600 | 3598 Sqft |
8 Acton Station Road , Salem, NJ,08079 | $460,600 | 3 | 2.0 | 1,872 | 281398 Sqft |
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ByOwner last updated this listing 05/01/2024 @ 01:25
MLS: NJSA2010698
LISTED BY: Jennifer J Rothenberger , Compass New Jersey, LLC - Moorestown
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 2%
Buyer Agency Description: Commission based on Net