Price Reduced 8.33%
Price History
$1,199,999
2/17/2024
$1,099,998
4/18/2024
1101 E 2nd St, Plainfield City, NJ, 07062-1411
1935
4,512 sqft
Just reduced. Cap rate is over 8.5%. All units are rented. Current rent roll is is approximately $12k per month. This property includes 2 residential units each consisting of 3 bdrm/1 bathroom apartments. An operating hair salon, smoke shop, biker's club, and a construction contractor's office. Enjoy the revenues with little or nor work as almost everything has been renovated. New HVAC system, new roof, boiler. Each unit as separate utilities. 3 units have brand new Central A/C. A dedicated 5 car parking lot is in the rear of the building. On-street parking is also available. The roof was replaced in 2021, so less than 3 years old. All retail/residential units were all renovated recently and so this is as turnkey as they come. Lots of storage in this building as there are several basements. The construction contractor's office is owned by the seller, so they can move if you would like to occupy this retail space or they can sign a lease agreement. Yearly gross income - $136k, Expenses - $42k, Net operating income = 94k
Status:
Active
Type:
Commercial
Units:
6
Zoning:
Commercial
Heating:
Gas-Natural 4+ Units
Cooling:
3 Units
Basement:
Bilco-Style Door, Full, Walkout
Levels:
2
Parking:
Off-Street Parking, On-Street Parking, Parking Lot-Exclusive
Lot Size:
125X52.28
Acreage:
0.15
Est. Taxes:
$14,698
Assessment
$170,000
Current Use
Mixed Use, Office/Apartments, Store With Apartment
Utilities
Electric, Gas-Natural
MLS #:
3886503
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School Info
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