NOT LISTED FOR SALE

16 Mcclelland Ave Pitman, NJ 08071

Estimated Value: $381,691 - $475,000

-- Bed
-- Bath
2,180 Sq Ft
$201/Sq Ft Est. Value

Last Sold October 30, 2018

Last sale price $275,000 $126 Per Sq Ft

Est. 59% increase in value since last sale

Current estimated payment $3,320/month

363 Days on Market

Highlights

  • No HOA
  • Cooling System Mounted In Outer Wall Opening
  • Baseboard Heating
  • 2 Car Attached Garage
  • En-Suite Primary Bedroom

About This Home

As of October 2018

Here is an Excellent Opportunity to own a very well maintained turn key Investment Property in one of South Jersey's newly developing Downtown Area! Broadway Theatre, 2 Craft Breweries, Bakeries and Restaurants make this a local attraction that is all within walking distance. Many other shops and public transportation too!. This Building consists of 4 One Bedroom Apartments and an attached 2 Car Garage. The total available income is $47,400 with Expenses of $13,616. This leaves you with a Net Return of over $33,000 per year. That is an awesome return and guess what the building is ready to go with everything being maintained whenever necessary. Each Unit has separate Electric Meters that even includes their Washer/Dryer Hookups and Storage Cage in the basement. That's right each unit has a separate storage area in the basement that allows them to lock up bikes, seasonal decorations or whatever they need. Every unit also has a separate Laundry Hookup in the basement so that they do not have to seek an outside laundromat. The plumbing has all been updated with Pex Lines that run to each fixture. Off Street Parking is also available for the tenants use. The owner has all of the required documentation including State of NJ 5 Year Inspection Certificate, Annual Pitman Inspection, Fully Wired Basement Fire Alarm System with Monitoring (Required), Knox Box for Fire Department Access (Required). If you are looking for an investment that is ready to go opportunity is knocking!

Last Listed By

Edward English

EXP Realty, LLC License #8937835 Listed on: 10/10/2017

EXP Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,156

Year Built

  • Built in 1930

Lot Details

  • 7,134 Sq Ft Lot
  • Lot Dimensions are 82x87
  • Property is in good condition

Parking

  • 2 Car Attached Garage
  • 4 Open Parking Spaces

Home Design

  • 2,180 Sq Ft Home
  • Quadruplex
  • Flat Roof Shape
  • Brick Foundation
  • Stucco

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Exterior Basement Entry

Schools

  • Pitman Middle School
  • Pitman High School

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Uses Gas
  • Baseboard Heating
  • Hot Water Heating System
  • 200+ Amp Service
  • Natural Gas Water Heater
  • Cable TV Available

Additional Features

  • En-Suite Primary Bedroom
  • Washer and Dryer Hookup

Listing and Financial Details

  • Tax Lot 00019
  • Assessor Parcel Number 15-00196-00019

Community Details

Overview

  • No Home Owners Association

Building Details

  • Electric Expense $180
  • Insurance Expense $1,124
  • Other Expense $1,656
  • Operating Expense $13,616

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,156

Year Built

Built in 1930

Lot Details

0

Parking

2

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Quadruplex
  • Structure Type: Detached
  • Ownership: Fee Simple
  • Exclusions: Tenants Personal Property
  • New Construction: No
  • Other Expense: 1656.00
  • Storage: Basement
  • Year Built: 1930
  • Remarks Public: Here is an Excellent Opportunity to own a very well maintained turn key Investment Property in one of South Jersey's newly developing Downtown Area! Broadway Theatre, 2 Craft Breweries, Bakeries and Restaurants make this a local attraction that is all within walking distance. Many other shops and public transportation too!. This Building consists of 4 One Bedroom Apartments and an attached 2 Car Garage. The total available income is $47,400 with Expenses of $13,616. This leaves you with a Net Return of over $33,000 per year. That is an awesome return and guess what the building is ready to go with everything being maintained whenever necessary. Each Unit has separate Electric Meters that even includes their Washer/Dryer Hookups and Storage Cage in the basement. That's right each unit has a separate storage area in the basement that allows them to lock up bikes, seasonal decorations or whatever they need. Every unit also has a separate Laundry Hookup in the basement so that they do not have to seek an outside laundromat. The plumbing has all been updated with Pex Lines that run to each fixture. Off Street Parking is also available for the tenants use. The owner has all of the required documentation including State of NJ 5 Year Inspection Certificate, Annual Pitman Inspection, Fully Wired Basement Fire Alarm System with Monitoring (Required), Knox Box for Fire Department Access (Required). If you are looking for an investment that is ready to go opportunity is knocking!
  • Special Features: None

Interior Features

  • Fireplace: No
  • Foundation Details: Brick/Mortar
  • Room List: Primary Bedroom
  • Basement: Yes
  • Basement Type: Full, Unfinished, Outside Entrance
  • Laundry Type: Hookup
  • Total Sq Ft: 2180
  • Living Area Sq Ft: 2180
  • Price Per Sq Ft: 139.91
  • Above Grade Finished Sq Ft: 2180
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 16

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Stucco
  • Exterior Features: Sidewalks, Street Lights
  • Roof: Flat
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage Spaces: 2.00
  • Garage: Yes
  • Open Parking Spaces Count: 4
  • Attached Garage Spaces: 2
  • Total Garage And Parking Spaces: 6
  • Type Of Parking: Attached Garage

Utilities

  • Annual Heating Expense: 1300.00
  • Central Air Conditioning: No
  • Cooling Type: Wall Unit
  • Cooling: Yes
  • Electric Expense: 180.00
  • Electric Service: 200+ Amp Service
  • Heating Fuel: Natural Gas
  • Heating Type: Gas, Hot Water, Baseboard
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv Available
  • Water Sewer Expenses: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No

Schools

  • School District: PITMAN BORO PUBLIC SCHOOLS
  • Middle School: PITMAN
  • High School: PITMAN
  • School District Key: 300200396141
  • High School: PITMAN
  • Middle Or Junior School: PITMAN

Lot Info

  • Lot Size Acres: 0.16
  • Lot Dimensions: 82X87
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 7134.00
  • Property Attached Yn: Yes
  • Property Condition: Good
  • Zoning: MULTI

Rental Info

  • Vacation Rental: No

Multi Family

  • Gross Income: 47400.00
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 3

Tax Info

  • Tax Annual Amount: 8156.00
  • Assessor Parcel Number: 15-00196-00019
  • Tax Lot: 00019
  • Tax Year: 2017
  • Close Date: 10/30/2018

MLS Schools

  • School District Name: PITMAN BORO PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 10, 2017
Closed on
Oct 30, 2018
Sold by
Fuerst Michelle M and Kozuba Edwin F
Bought by
Rmkc Property Llc
Seller's Agent
Edward English
EXP Realty, LLC
Buyer's Agent
James Sullivan III
Century 21 Rauh & Johns
List Price
$325,000
Sold Price
$275,000
Premium/Discount to List
-$50,000
-15.38%
Total Days on Market
363
Current Estimated Value
$438,423

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$163,423
Avg. Annual Appreciation
6.74%

Purchase Details

Closed on
Mar 31, 2010
Sold by
Armstrong Harry G and Armstrong Susan J
Bought by
Fuerst Michelle and Kozuba Edwin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$149,250
Interest Rate
5.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 25, 1995
Sold by
Levine Lawrence A
Bought by
Armstrong Harry G and Armstrong Susan J

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Rmkc Property Llc $275,000 Foundation Title Llc
Fuerst Michelle $199,000 Commonwealth Land Title Insu
Armstrong Harry G $100,000 Supreme Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rmkc Property Llc $240,000
Closed Rmkc Property Llc $220,000
Previous Owner Fuerst Michelle $149,250
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/30/2018 10/30/18 Sold $275,000 -15.4% $126 / Sq Ft
10/08/2018 10/08/18 Pending -- -- --
10/10/2017 10/10/17 For Sale $325,000 -- $149 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $10,387 $305,400 $49,800 $255,600
2023 $10,387 $305,400 $49,800 $255,600
2022 $9,977 $305,400 $49,800 $255,600
2021 $8,706 $194,200 $48,200 $146,000
2020 $8,603 $194,200 $48,200 $146,000
2019 $8,401 $194,200 $48,200 $146,000
2018 $8,259 $194,200 $48,200 $146,000
2017 $8,156 $194,200 $48,200 $146,000
2016 $7,999 $194,200 $48,200 $146,000
2015 $7,784 $194,200 $48,200 $146,000
2014 $7,545 $194,200 $48,200 $146,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: 1003279991

Bright MLS

APN: 15-00196-0000-00019