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774 S Main St, Phillipsburg Town, NJ 08865
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$869,900
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Home Details for 774 S Main St
Price
$869,900
Type
Commercial/Industrial
Year Build
1900
Sq. Ft.
5400
Lot Size
0.23
County
Warren
Basement
Unfinished
Tax
$11,379
MLS®️ Listing#
3921882
On exitrealty.com
162 days
Property Description
$1.05M property on sale! Fantastic investment opportunity in the heart of Phillipsburg, NJ! This legally recognized 5-unit property offers exceptional value with an impressive 8% cap rate. Situated on a spacious lot on S Main St, the property consists of two buildings on one tax record: one with 3 units and the other with 2 units. All units are currently 100% occupied, with some tenants on Section 8, providing steady rental income.One standout feature is the recently renovated unit, which boasts 4 legal bedrooms and a finished attic that can be converted into a 5th bedroom, further enhancing the property's value. Tenants cover their own utilities, including water and sewage, making for a hassle-free investment. Monthly gross income is $7825, annual gross income is $93,900. Annual property taxes are $13,200 and property insurance is $5500. The property benefits from affordable real estate taxes and has recently been appraised at $1.05M as-is. With potential to increase rents to match market rates, this cash-flowing asset is an ideal opportunity for savvy real estate investors. Don?t miss out on this unique chance to own a multifamily gem in a growing area!
- Cooling Information
- Window Unit(s)
- Heating Information
- Natural Gas
- Water Features
- Public
- Utilities
- Natural Gas Available
- Parking
- On Street
- Basement
- Unfinished
Listing Courtesy: REAL - 855-450-0442
The data displayed relating to real estate for sale comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. This information is being provided for Consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing. Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. Information deemed reliable but not guaranteed. Copyright ©2025 Garden State Multiple Listing Service, L.L.C. All Rights Reserved.
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$869,900
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EXIT REALTY CONNECTIONS
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