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225231 Gibbon Street,  Salem NJ, 08079

(Active)
$309,000
|
4 beds, 2,380 sqft
|
MLS# NJSA2010698
Last Updated: 5/12/2024 4:50 PM
Description for 225231 Gibbon Street Salem, NJ 08079
Welcome to 225-231 Gibbon Street, Salem, NJ. This meticulously maintained property presents an exceptional investment opportunity with a smart and strategic approach. Comprising four 3-bedroom, 1-bath townhomes, this income-generating property offers a total of 12 bedrooms and 3 bathrooms across a generous 2380 square feet of living space.Nestled on a total lot size of 5118 square feet, the property boasts newer roofs, adding an invaluable layer of functionality . Each unit is currently occupied, with annual leases in place, ensuring a consistent stream of income for the savvy investor.Notably, three of the four of the townhomes have been recently updated, offering a blend of character and modern convenience. The property's impressive annual gross rental net of $56,760 and a remarkable 12% cap rate underscore its potential as a lucrative addition to any investment portfolio. Photos of 229 and 231 are prior to the recent current tenants' occupancy. Conveniently located in a convenient area, this property presents a rare opportunity to acquire a turnkey investment with strong rental history and promising returns. Don't miss the chance to own this income-generating gem in Salem, NJ. Schedule your showing today and seize this astute investment opportunity.
Price
$309,000
SALEM
4
2,380 (approx)
NJSA2010698
Active
Description
Welcome to 225-231 Gibbon Street, Salem, NJ. This meticulously maintained property presents an exceptional investment opportunity with a smart and strategic approach. Comprising four 3-bedroom, 1-bath townhomes, this income-generating property offers a total of 12 bedrooms and 3 bathrooms across a generous 2380 square feet of living space.Nestled on a total lot size of 5118 square feet, the property boasts newer roofs, adding an invaluable layer of functionality . Each unit is currently occupied, with annual leases in place, ensuring a consistent stream of income for the savvy investor.Notably, three of the four of the townhomes have been recently updated, offering a blend of character and modern convenience. The property's impressive annual gross rental net of $56,760 and a remarkable 12% cap rate underscore its potential as a lucrative addition to any investment portfolio. Photos of 229 and 231 are prior to the recent current tenants' occupancy. Conveniently located in a convenient area, this property presents a rare opportunity to acquire a turnkey investment with strong rental history and promising returns. Don't miss the chance to own this income-generating gem in Salem, NJ. Schedule your showing today and seize this astute investment opportunity.
Listing Information
Property Type: Fourplex, Multi-Family, Traditional
4 0.12 Acres 2,380 (approx)
1940 Vinyl siding
Public
Public Sewer
Neighborhood
School Information
District: SALEM CITY SCHOOLS
Room Information
Interior Features
Electric Water Heater
Gas Heat, Oil, Forced Air
Partial, Unfinished
Exterior / Lot Features
On Street
Vinyl
64.00 x 80.00
Driving Directions
Off of Hubble St
Financial Considerations
13-00018-00022
$6,721
Listing Price History

Salem Real Estate

Salem is located in New Jersey. Salem, New Jersey 08079 has a population of 4,720.

The median household income for the surrounding county is $68,176 compared to the national median of $66,222. The median age of people living in Salem 08079 is 42 years.

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Courtesy: Compass New Jersey, LLC - Moorestown
BRIGHT MLS - All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes.
This content last refreshed on 5/12/2024 4:50 PM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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