NOT LISTED FOR SALE

308 W Evesham Ave Magnolia, NJ 08049

Studio
-- Bath
-- Sq Ft
7,000 Sq Ft Lot

Last Sold May 25, 2021

Last sale price $346,000

17 Days on Market

Highlights

  • 24-Hour Security
  • Colonial Architecture
  • No HOA
  • Open Floorplan
  • Two Story Ceilings
  • Balcony

About This Home

As of May 2021

TURNKEY CASHFLOW INVESTMENT!!! This attractive newly renovated (no deferred maintenance) 4-unit building features two retail spaces on the first floor and two residential apartments on the second floor. All units are occupied by long-time, reliable tenants. One of the residential unit has been converted in to a two bedroom and the rent is doubled. The other is ready to be done the same way (OPPORTUNITY to double the rent here as well). Both of the retail spaces is currently occupied by two successful businesses. (under market rents) This property also features a ton of great storage spaces, basement laundry, and a fire escape. Not only that, but each unit has a separate electrical box and heating unit. Here’s the best part...this property has it's own recently sealed parking lot with all new line for parking spots. Spots in front of the building are convenient for customers of the retail units and private spots in the back of the building are for the residents and shop owners. Start making cashflow the moment you're handed the keys. Make your appointment today!

Last Agent to Sell the Property

Rachael Han-Ong

(609) 634-8642 rachaelong2010@gmail.com Keller Williams Realty - Cherry Hill Listed on: 02/16/2021

Keller Williams Realty - Cherry Hill

Last Buyer's Agent

Patricia Barry

(609) 304-4343 pat.barry@foxroach.com BHHS Fox & Roach-Medford License #9803348

BHHS Fox & Roach-Medford

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,381

Year Renovated

  • 2018

Lot Details

  • 7,000 Sq Ft Lot
  • Lot Dimensions are 50.00 x 140.00
  • Property is in very good condition

Home Design

  • Quadruplex
  • Colonial Architecture
  • Traditional Architecture
  • Block Foundation
  • Asphalt Roof

Interior Spaces

  • Open Floorplan
  • Brick Wall or Ceiling
  • Two Story Ceilings
  • Ceiling Fan
  • Basement Fills Entire Space Under The House

Flooring

  • Carpet
  • Laminate
  • Ceramic Tile
  • Vinyl

Home Security

  • Alarm System
  • Carbon Monoxide Detectors
  • Fire and Smoke Detector
  • Fire Escape

Parking

  • 6 Open Parking Spaces
  • 10 Parking Spaces
  • 4 Driveway Spaces
  • Parking Lot

Outdoor Features

  • Balcony
  • Exterior Lighting

Utilities

  • Window Unit Cooling System
  • Hot Water Baseboard Heater
  • Natural Gas Water Heater

Listing and Financial Details

  • The owner pays for water, sewer
  • Tax Lot 00011
  • Assessor Parcel Number 23-00001 03-00011

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Operating Expense $22,962
  • Net Operating Income $24,268

Security

  • 24-Hour Security

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,381

Year Renovated

2018

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Quadruplex
  • Structure Type: Detached
  • Architectural Style: Colonial, Traditional
  • Ownership: Fee Simple
  • New Construction: No
  • Year Renovated: 2018
  • Automatically Close On Close Date: No
  • Special Features: None

Interior Features

  • Flooring Type: Carpet, Ceramic Tile, Laminated, Vinyl
  • Interior Amenities: Floor Plan - Open
  • Wall Ceiling Types: 2 Story Ceilings, 9'+ Ceilings, Brick
  • Foundation Details: Block
  • Basement: Yes
  • Basement Type: Full
  • Above Grade Finished Area Units: Square Feet

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Block
  • Exterior Features: Exterior Lighting, Fire Escape, Sidewalks
  • Roof: Asphalt
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Parking Features: Asphalt Driveway
  • Total Garage And Parking Spaces: 10
  • Type Of Parking: Driveway, Parking Lot
  • Number of Spaces in Driveway: 4
  • Parking Lot Number Of Spaces: 6

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Ceiling Fan(s), Window Unit(s)
  • Heating Fuel: Natural Gas
  • Heating Type: Baseboard - Hot Water
  • Heating: Yes
  • Hot Water: Natural Gas
  • Security: 24 Hour Security, Carbon Monoxide Detector(s), Electric Alarm, Fire Detection System, Main Entrance Lock, Smoke Detector, Security System
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • HOA: No
  • Association Recreation Fee: No

Schools

  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Improvement Assessed Value: 204300.00
  • Land Assessed Value: 52500.00
  • Lot Size Acres: 0.16
  • Lot Dimensions: 50.00 x 140.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 7000.00
  • Outdoor Living Structures: Balcony
  • Property Condition: Very Good
  • Zoning: COM

Rental Info

  • Existing Lease Type: Long Term, Month To Month, Gross
  • Owner Pays: Water, Sewer
  • Rent Control: No
  • Total Actual Rent: 47231.00
  • Units Leased Count: 4
  • Vacation Rental: No

Multi Family

  • Gross Income: 47231.00
  • Operating Expense: 22962.00
  • Other Units: Unit 1,Unit 2

Tax Info

  • Assessor Parcel Number: 1897250
  • Tax Annual Amount: 11381.00
  • Assessor Parcel Number: 23-00001 03-00011
  • Tax Lot: 00011
  • County Tax Payment Frequency: Annually
  • Tax Year: 2020

MLS Schools

  • School District Name: STERLING HIGH

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 16, 2021
Closed on
May 24, 2021
Sold by
East Coast Res Redevelopment Group Llc
Bought by
308 W Evesham Holdings Llc
Seller's Agent
Rachael Han-Ong
Keller Williams Realty - Cherry Hill
Buyer's Agent
Patricia Barry
BHHS Fox & Roach-Medford
List Price
$349,000
Sold Price
$346,000
Premium/Discount to List
-$3,000
-0.86%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Outstanding Balance
$451,701
Interest Rate
2.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 1, 2019
Sold by
Hellyer Robert J
Bought by
East Ocast Res Redevelopment Group Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$125,000
Interest Rate
4.4%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
308 W Evesham Holdings Llc $343,750 Land Services Usa
308 W Evesham Holdings Llc $343,750 None Listed On Document
East Ocast Res Redevelopment Group Llc $220,500 Surety Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 308 W Evesham Holdings Llc $500,000
Closed 308 W Evesham Holdings Llc $275,000
Previous Owner East Ocast Res Redevelopment Group Llc $125,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/25/2021 05/25/21 Sold $346,000 -0.9% --
03/05/2021 03/05/21 Pending -- -- --
02/16/2021 02/16/21 For Sale $349,000 -- --
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
2025 $12,329 $256,800 $52,500 $204,300
2024 $12,029 $256,800 $52,500 $204,300
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2021

    Rachael Han-Ong

    Keller Williams Realty - Cherry Hill

    Section Image
  • Patricia Barry

    Buyer's Agent in 2021

    Patricia Barry

    BHHS Fox & Roach

    (609) 304-4343

    1 in this area

    35 Total Sales

    Patricia Barry
    Section Image
See All Agents

Map

Source: Bright MLS

MLS Number: NJCD413410

Bright MLS

APN: 23-00001-03-00011

New Jersey Camden County Magnolia 08049

308 W Evesham Ave, Magnolia, NJ

Not Listed for Sale

MultiFamily

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