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44 Lincoln Pl

North Plainfield Boro, NJ 07060
  • $800,000
  • STATUS: Active
  • ON SITE: 44 Days
  • MLS #: 3746201
UPDATED: 54 min ago
$800,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,000
    SQFT
  • $160
    $/SQFT
Type:
Commercial
Built:
1930
County:

School Ratings & Info

Description

Great investment opportunity, turn key operation, you collect rent since day 1 in a fully occupied property with 6 apartments, 2/3 bedrooms, 2/2 bedrooms, 1/1 bedrooms, 1 studio, all with separate utilities, rents are around 15% below market value, long term tenants, historical very low vacancy rate if any, you can have tenants ready before current occupant leaves, your problem will be to which applicant you will give the apartment, very convenient location for renters, close proximity to public transportation, at walking distance of laundry facilities, supermarkets, houses of worship, schools, municipal building, bakeries, restaurants. Central heat replaced in 2013, tenants pay their own electricity, cooking gas and hot water, landlord only pay water, sewer and property taxes, garbage disposal, heat and insurance. Good return in your investment, do not miss this opportunity. SALE INCLUDES 40X80 VACANT LOT IN BACK OF THE PROPERTYYearly Income: 88,800- Yearly Expenses 63,795 = $25,005 yearly cash return = 12.51% yearly return on $200,000 down payment investment with under market value current rents. See breakdown of income and expenses in mediaRents are at least 10% below market value, room for income increase.

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© 2021 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Christie's International Real Estate Northern New Jersey. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Christie's International Real Estate Northern New Jersey are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2021-11-27T18:46:17.73.
www.srrealestategroup.com/homes/122334727
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44 Lincoln Pl North Plainfield Boro, NJ 07060

  • Price: $800,000
  • Status: Active
  • On Site: 44 Days
  • Updated: 54 min ago
  • MLS #: 3746201
0
Beds
0
Baths
0
½ Baths
0.13
Acres
5,000
SQFT
$160
$/SQFT
1930
Built
County:
Somerset
Area:
North Plainfield Boro
Property Description
Great investment opportunity, turn key operation, you collect rent since day 1 in a fully occupied property with 6 apartments, 2/3 bedrooms, 2/2 bedrooms, 1/1 bedrooms, 1 studio, all with separate utilities, rents are around 15% below market value, long term tenants, historical very low vacancy rate if any, you can have tenants ready before current occupant leaves, your problem will be to which applicant you will give the apartment, very convenient location for renters, close proximity to public transportation, at walking distance of laundry facilities, supermarkets, houses of worship, schools, municipal building, bakeries, restaurants. Central heat replaced in 2013, tenants pay their own electricity, cooking gas and hot water, landlord only pay water, sewer and property taxes, garbage disposal, heat and insurance. Good return in your investment, do not miss this opportunity. SALE INCLUDES 40X80 VACANT LOT IN BACK OF THE PROPERTYYearly Income: 88,800- Yearly Expenses 63,795 = $25,005 yearly cash return = 12.51% yearly return on $200,000 down payment investment with under market value current rents. See breakdown of income and expenses in mediaRents are at least 10% below market value, room for income increase.
Exterior Features

Approximate Lot Size 56X100 Construction Brick/BlockWood Exterior Description Brick/BlockVinyl Siding Location Residential Area Lot Description Corner Number Of Bays 0 Number Of Docks 0 Parking Driveway Description 1 Car WidthCrushed StoneOff-Street ParkingOn-Street Parking Roof Description Asphalt ShingleFlat

Interior Features

Basement Yes Basement Description FullStorageUnfinishedWalkout Cooling Window A/C(S) Equipment Available Kitchen AreaRestrooms - PrivateSmoke Detector Heating 1 UnitRadiators - Steam Max Ceiling Height 9 Max Door Height 7 Number Of Lavatories 6 Office Sq Ft 0

Property Features

Available Immediately Building Number 1 Expenses Include Gas/OilInsuranceMaintenance - InteriorTaxesTrashWater/Sewer For Sale Or Lease For Sale Free Rent No Fuel Type Gas-Natural Gross Operating Income 88800 Lease Type Other Net Operating Income 63657 Owner Pays HeatSewerTrash RemovalWater Primary Property Type See Remarks Property Type See Remarks Sale Includes Building & Land Sewer Public Sewer Suite Number 6 Tax Amount 9193 Tax Rate Amount 3.912 Tax Rate Year 2020 Tax Year 2020 Tenant Pays Cable T.V.ElectricGasHot Water Total Operating Expense 25143 Utilities ElectricGas-Natural Water Public Water Year Built Description Renovated Zoning R4

Listing information © 2021 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Era Suburb Realty.


© 2021 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Christie's International Real Estate Northern New Jersey. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Christie's International Real Estate Northern New Jersey are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2021-11-27T18:46:17.73.
 
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Christie's International Real Estate Northern New Jersey
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Summit NJ, 07901