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VIEW PHOTOS
$850,000

2219 Park AVENUE

3 Beds 4,050 Sq.Ft.

Description

INVESTORS: This five-unit, mixed residential / commercial building has a cap-rate of 6.8%, bringing in a gross rent of $7,100 a month (although this can be increased if the residential units are updated and the back detached properties designation changes). The entire unit is currently rented to a barber shop for $1,775 and a waxing studio for $850. The upstairs apartments are both two bed, one baths rented for $1,525 and $1,425. In the rear is an additional detached property that is currently used as a residential unit but can be converted into a commercial space (medical is approved zoning) for $1,525. All units have their own boilers and pay for their own utilities. The properties have 21-23 parking spots and are right on the corner of a major junction, so have plenty of curbside visibility. Total gross rent is $85,200 and expenses are $26,836. Included in expenses are the following: Professionals Fees ( Fire Alarm Inspection & Monitoring)

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Location

2219 Park Ave, South Plainfield, NJ 07080

Status

For Sale

Property Amenities

Interior
Total Bedrooms: 3
Area & Lot
Lot Area 0.37 Acres
Living area 4,050 Sq.Ft.
MLS® ID NJMX2006116
Year Built 1970
School District SOUTH PLAINFIELD SCHOOLS
Architecture Styles Colonial
Type Other
Status For Sale
Exterior
Air conditioning Central Air
Heat type Forced Air, Natural Gas
Water Source Public
Sewer Public Sewer
Finance
Sales Price $850,000
Real Estate Tax $14,838 yearly
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Schedule a Showing

We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.

Thank you for your interest in 2219 Park Ave, South Plainfield, NJ 07080. We are reviewing your request and will be in touch shortly!

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Work With Us

As father & son duo, we’ve been living in and working in the Mercer area for a combined 45 years – and we’re passionate about it. Let’s chat about how our expertise can help you.