1878-1880 Springfield Ave - Multi-Family FOR SALE


Maplewood, NJ 07040
$1,600,000 USD
732-266-6677
1878-1880 Springfield Ave, Maplewood, NJ for Sale
$1,600,000 USD
Multi-Family - FOR SALE
1/34
null | 6.88% Cap Rate

1878-1880 Springfield Ave
Maplewood, NJ 07040


OVERVIEW

Fantastic opportunity to own a mixed-use building in Maplewood's highly sought-after commercial area is now available for purchase. Separately metered, this 6,000 sq ft, multi-tenant investment property comes 100% leased with 2 long-term storefront tenants with annual rental increases, 4 residential apartments and comes with 4 parking spots and a finished basement. Located on a busy, high visibility street - first level includes a well-known restaurant and a nail salon. Second level has 3 two-bedroom apartments and 1 studio apartment. Close in proximity to the Maplewood business district, charming Maplewood downtown, parks and Maplewood Country Club; just minutes of GSP and Rt 78, less than 10 miles away from Newark International Airport and within minutes from various public transportation options, this location is very commuter accessible as well as desirable. Additionally, this building comes with various upgrades and repairs completed within the last few years: new roof (2021), 3 newer hot water tanks (2021), updated bath and paint in Apt A (2021) new kitchen cabinets in Apt B (2022), entire building and basement repainted (2022), new security system/cameras (2022). Rare offerings like this don't come around too often in such prime locations, so take ownership on this one and reach out today!

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$181 USD /SF

# OF UNITS

-

CAP RATE

6.88%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,791 SF

ZONING

PRB

APN/PARCEL ID

11-00028-03-00179

ASK ABOUT THIS PROPERTY

Julia RomanSignature Realty NJ LLCMore Info
732-266-6677

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Julia RomanSignature Realty NJ LLCMore Info
732-266-6677

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.