Gross Yield: 12%, GRM: 8.32, Cap Rate: 8.49%, DSCR: 2.50
Turnkey, completely renovated, fully tenanted and high-income producing property in very desirable Hamilton Township, New Jersey.
This is a one-and-a-half story triplex, totaling 1,943 sq ft., plus 880 sq ft basement with lockable storage areas and washer/dryer available to all tenants.
One apartment has two bedrooms, one bath and totals 813 sq ft.
The second has one bedroom, one bath and totals 600 sq ft.
The third apartment also has one bedroom and one bath and totals 530 sq ft.
All apartments were rehabbed top to bottom in 2020, including all-new heating, plumbing and electrical systems, kitchens, baths, flooring, double-pane windows and light fixtures.
Kitchens feature stainless steel appliances, gas ranges, granite or quartz countertops. 55 in. flat panel TVs in furnished unit. Ceiling fans. Gas heat and hot water. All units are air conditioned. All utilities are separately metered. Cable provided. Smart-Lock entry doors. Public sewer and water.
Units have been rented since 2021. Leases are mid-term to annual. Annual total rent roll for 2024 was $72,102.
Tax ID: 03-01668-00009
Annual 2024 tax: $7,788
Location: Hamilton Township, New Jersey 08619
Block: 1668 Lot 9
Lot Sq Ft: 28,419
Apartment A: Unfurnished, one bedroom, one bath, kitchen/dining/ living.
Apartment B: Furnished, two bedrooms, one bath, kitchen/dining, living, enclosed, four-season porch.
Apartment C: Unfurnished, one bedroom, one bath, living, dining/kitchen.
Off-street parking for 4+ cars and large backyard for pets.
Apartments are a few blocks from Five Points in Hamilton Township, minutes to Costco and Quakerbridge Mall and other Rt 1 shopping and restaurants. Close to corporate campuses, universities and Mercer County Community College. Princeton is a 20-minute drive.
Leases, full financial information and lot survey are available to serious buyers.
Two additional residential rental properties also are for sale in Hamilton and Southampton:
95 Mercer Street Hamilton Square New Jersey 08690 Gross Yield: 14.2%
2 Sikoneses Trail Southampton New Jersey Gross Yield: 18.4%