$321,000
SOLD JAN 30, 2025

14 16 Chestnut St Salem, NJ 08079

Studio
-- Bath
-- Sq Ft
10,528 Sq Ft Lot

Recently Sold

42% Below List Price

55 Days on Market

About This Home

As of January 2025

Cash-Cow opportunity in Salem City! New to the market is this 6-unit apartment building, consisting of FIVE2-bedroom units and ONE 1-bedroom units. RentRoll: 14A - $1,200/mo; Unit 14B - $925/mo; Unit 14C - $1,075/mo; Unit 16A - $1,275/mo; Unit 16B - $800/mo; Unit 16C - Vacant. Separate electric meters for the entire building, and each tenant pays their own electricity and electric heat.

Inquire today to be notified of the upcoming planned group investor tour! Broker and Seller assume no responsibility and make no guarantees, warranties or representations, both expressed or implied, as to the availability or accuracy of the property information, room counts, dimensions or other information depicted or described herein. Buyer is responsible for completing their own due diligence and verifying all information necessary.

Last Agent to Sell the Property

Carlo Drogo

(856) 692-4368 carlodrogo@gmail.com EXP Realty, LLC Listed on: 10/15/2024

EXP Realty, LLC

Last Buyer's Agent

Carlo Drogo

(856) 692-4368 carlodrogo@gmail.com EXP Realty, LLC Listed on: 10/15/2024

EXP Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,038

Year Built

  • Built in 1940

Lot Details

  • 10,528 Sq Ft Lot
  • Lot Dimensions are 90.00 x 117.00

Parking

  • On-Street Parking

Accessible Home Design

  • More Than Two Accessible Exits

Utilities

  • Electric Baseboard Heater
  • Electric Water Heater

Community Details

  • 1 Vacant Unit

Listing and Financial Details

  • Tax Lot 00027
  • Assessor Parcel Number 13-00057 01-00027

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,038

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Accessibility Features: 2+ Access Exits
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1940
  • Building Winterized: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Above Grade Finished Area Units: Square Feet

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Type Of Parking: On Street

Utilities

  • Central Air Conditioning: No
  • Heating Fuel: Electric
  • Heating Type: Baseboard - Electric
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Schools

  • School District Source: Listing Agent

Lot Info

  • Lot Size Acres: 0.24
  • Lot Dimensions: 90.00 x 117.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 10528.00
  • Zoning: R

Rental Info

  • Number Of Units Month To Month: 3
  • Units Leased Count: 5
  • Vacation Rental: No

Multi Family

  • Number Of Units Vacant: 1
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 3,Unit 6

Tax Info

  • Tax Annual Amount: 15038.00
  • Assessor Parcel Number: 13-00057 01-00027
  • Tax Lot: 00027
  • County Tax Payment Frequency: Annually
  • Tax Year: 2023

MLS Schools

  • School District Name: SALEM CITY SCHOOLS

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/30/2025 01/30/25 Sold $321,000 -19.8% --
12/09/2024 12/09/24 Pending -- -- --
12/02/2024 12/02/24 Price Changed $400,000 -15.8% --
10/30/2024 10/30/24 Price Changed $475,000 -13.6% --
10/15/2024 10/15/24 For Sale $550,000 -- --
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: NJSA2012614

Bright MLS