Back on market, buyer could not secure financing. Investors Delight! This property is located in the suburbs of Buena, New Jersey and would be ideal for either a smart investor or someone who loves cars. First off, the square footage on Zillow is wrong. There is no way for me to change it on Zillow. This property has 3 apartments and a 4 car garage. There are 2 houses on the property. The property sits on a corner lot. One house faces Laurel St. and the other house faces Summer Ave. The house on Laurel St. has 2 apartments - an upstairs apartment consisting of 1 bedroom, an office (which could be used as a bedroom), 1 bath, a full kitchen and a washer and dryer. The downstairs has 2 bedrooms, 1 bathroom, a full kitchen, a living room with a beautiful brick fireplace and a large basement with a washer and dryer. There is also another room in the basement that could be used as an office or game room. All kitchens and bathrooms have tile floors.
The other building faces Summer Ave. and has 2 bedrooms, 2 FULL bathrooms, a washer / dryer and an attached 4 car garage. The garage is heated and air conditioned and has a half bath with a bar sink. In total there are 6 Bedrooms, 3 kitchens, 4 ½ bathrooms and a 4 car garage! There is also a chimney in the garage where I used to have a wood stove if you ever want to re-install one.
All structures are made of concrete block. All 4 units have central air conditioning. Almost all the appliances are natural gas. All units have alarm systems. There is an underground sprinkler system as well as a camera system that allows you to monitor the property on your phone. There is city water and city sewer. Property taxes are $5,859 per year. The area is extremely safe and the neighbors are awesome. You could live in one unit and rent the other two and live here for free. You could use the smaller apartment as an Airbnb. The possibilities are endless.
The property appraised for $465,000. I am offering it for sale for $395,000. Here is an opportunity to make $70,000 in IMMEDIATE equity, plus you get all the potential rental income!
Please note that I am the owner of the property and for the right buyer, this will be an incredible opportunity! The stock market is down 20%, but rents are UP 20%. Do the math. I have owned this property for 23 years and it was the BEST investment I ever made! Someday, you’ll look back and say the same.