354 S Main St - Apartments FOR SALE


Wharton, NJ 07885
$1,650,000 USD
973-261-3995
354 S Main St, Wharton, NJ for Sale
$1,650,000 USD
Apartments - FOR SALE
1/98
null | 6.47% Cap Rate

354 S Main St
Wharton, NJ 07885


HIGHLIGHTS

  • 5 COMPLETELY RENOVATED UNITS WITH 3 ADDITIONAL UNITS TO BE APPROVED BY NEW BUYER
  • NEW ROOFS AND UTILITES
  • GREAT TENANTS , GREAT LOCATION AND PLENTY OF UPSIDE ON LOT

OVERVIEW

Discover an unparalleled investment opportunity in the heart of the real estate market! This expansive property, covering over half an acre with 2 separate buildings, stands as one of the largest lots in town. Located in a B-1 Zoning District (Neighborhood Business District), it offers remarkable flexibility and potential. Both buildings have undergone complete renovation and rehabilitation, including new roofs, kitchens, bathrooms, utilities, and more. This ensures a low-maintenance, high-yield investment for years to come. Currently configured with 4 renovated apartments and 1 office space with full kitchens and bathrooms, the property boasts an impressive income potential exceeding $138,000 annually! We have created comprehensive floor plans and future plans to add 3 additional units to the front building, which has partial approvals. This will allow you to thoroughly explore every aspect of this unique offering. With the potential to expand to 8 units, the gross income could reach an astounding $220,000. This exceptional opportunity, with its strategic location and extensive renovations, ensures a sustainable and profitable investment for discerning investors. Don't miss out on the chance to secure a prime piece of real estate that promises significant returns and long-term growth. Let's collaborate to analyze the numbers, align with your goals, and make this exceptional investment opportunity yours today!

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$330 USD /SF

# OF UNITS

5

PRICE/UNIT

$330,000

CAP RATE

6.47%

% LEASED

80%

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,265 SF

ZONING

B-1 Commercial

APN/PARCEL ID

39-02011-0000-00014

ASK ABOUT THIS PROPERTY

Mohamad SankarKW CommercialMore Info
973-261-3995

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Mohamad SankarKW CommercialMore Info
973-261-3995

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