$2,200,000

350 - 360 Concord Ave Ewing, NJ 08618

Glendale Neighborhood

Estimated payment $15,465/month

Total Views 72
-- Bed
-- Bath
13,440 Sq Ft
$164 Price per Sq Ft

Highlights

  • Colonial Architecture
  • Engineered Wood Flooring
  • Forced Air Heating System

About This Home

Presenting a rare investment opportunity: five detached multifamily buildings, each located on the same street in Ewing, NJ. Each building features four units—two spacious 2-bedroom, 1-bath apartments and two comfortable 1-bedroom, 1-bath apartments—totaling 20 units across the portfolio.Property Highlights:Unit Mix: Each building offers 2 × 2BR/1BA and 2 × 1BR/1BA units, for a total of 10 two-bedroom and 10 one-bedroom units.Configuration: All five buildings are detached and situated on a single street, maximizing curb appeal and operational efficiency.Current Income: The portfolio generates a gross scheduled rent of $270,264 and a collected rent of $251,000 annually, with a Net Operating Income (NOI) of approximately $169,234 after projected renovations.Cap Rate: At the $2,200,000 asking price and projected NOI, the cap rate is approximately 7.7% for a cash purchaser.Value-Add Upside:Unlock the property’s full potential by investing approximately $300,000 in targeted renovations:Interior Upgrades: Install vinyl plank flooring, granite countertops, stainless steel appliances, fresh paint, new vanities, and updated flooring and tile work in each bathroom.Building Enhancements: Add a chain-link fence for secure basement storage for each building, washer and dryer installations in the basement, and exterior security cameras for peace of mind.Amenities: Construct a vestibule outside each building for secure package delivery, and pave the driveway to create two new parking spaces in the front and two in the rear of each building.Section 8 Potential: These improvements will significantly increase the property’s appeal and rental income, especially for Section 8 tenants, where the enhanced amenities and finishes are expected to command higher allowable rents.Seller Financing Available:Flexible seller financing terms are offered to qualified buyers:Down Payment: $1,200,000 cashSeller Financing: $1,000,000 at a competitive 3% interest rate, amortized over 30 years, with a 5-year balloon periodInvestment Summary:Asking Price: $2,200,000Gross Scheduled Rent: $270,264Net Operating Income (Pro Forma): $169,234 (post-renovation)Cap Rate: 7.7% (cash purchase, post-renovation)Seller Financing: $1,000,000 at 3% interest, 5-year balloonThis is a unique opportunity to acquire a well-located, high-upside multifamily portfolio with significant value-add potential and attractive seller financing. Contact us today for a full financial package and to schedule a tour.

Listing Agent

Tim Crew

BHHS Fox & Roach - Princeton License #1433029 Listed on: 06/19/2025

BHHS Fox & Roach - Princeton

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $38,506

Year Built

  • Built in 1938

Home Design

  • Colonial Architecture
  • Block Foundation
  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 13,440 Sq Ft Home
  • Engineered Wood Flooring

Parking

  • Driveway
  • Off-Street Parking

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System
  • Electric Water Heater

Community Details

  • 4 Units
  • Net Operating Income $169,234

Listing and Financial Details

  • Assessor Parcel Number 02-00309-00023

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$38,506

Year Built

Built in 1938

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Structure Type: Detached
  • Architectural Style: Colonial
  • Ownership: Fee Simple
  • Historic: No
  • New Construction: No
  • Year Built: 1938
  • Remarks Public: Presenting a rare investment opportunity: five detached multifamily buildings, each located on the same street in Ewing, NJ. Each building features four units—two spacious 2-bedroom, 1-bath apartments and two comfortable 1-bedroom, 1-bath apartments—totaling 20 units across the portfolio. Property Highlights: Unit Mix: Each building offers 2 × 2BR/1BA and 2 × 1BR/1BA units, for a total of 10 two-bedroom and 10 one-bedroom units. Configuration: All five buildings are detached and situated on a single street, maximizing curb appeal and operational efficiency. Current Income: The portfolio generates a gross scheduled rent of $270,264 and a collected rent of $251,000 annually, with a Net Operating Income (NOI) of approximately $169,234 after projected renovations. Cap Rate: At the $2,200,000 asking price and projected NOI, the cap rate is approximately 7.7% for a cash purchaser. Value-Add Upside: Unlock the property’s full potential by investing approximately $300,000 in targeted renovations: Interior Upgrades: Install vinyl plank flooring, granite countertops, stainless steel appliances, fresh paint, new vanities, and updated flooring and tile work in each bathroom. Building Enhancements: Add a chain-link fence for secure basement storage for each building, washer and dryer installations in the basement, and exterior security cameras for peace of mind. Amenities: Construct a vestibule outside each building for secure package delivery, and pave the driveway to create two new parking spaces in the front and two in the rear of each building. Section 8 Potential: These improvements will significantly increase the property’s appeal and rental income, especially for Section 8 tenants, where the enhanced amenities and finishes are expected to command higher allowable rents. Seller Financing Available: Flexible seller financing terms are offered to qualified buyers: Down Payment: $1,200,000 cash Seller Financing: $1,000,000 at a competitive 3% interest rate, amortized over 30 years, with a 5-year balloon period Investment Summary: Asking Price: $2,200,000 Gross Scheduled Rent: $270,264 Net Operating Income (Pro Forma): $169,234 (post-renovation) Cap Rate: 7.7% (cash purchase, post-renovation) Seller Financing: $1,000,000 at 3% interest, 5-year balloon This is a unique opportunity to acquire a well-located, high-upside multifamily portfolio with significant value-add potential and attractive seller financing. Contact us today for a full financial package and to schedule a tour.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring Type: Hardwood, Engineered Wood
  • Wall Ceiling Types: Dry Wall
  • Foundation Details: Block
  • Total Sq Ft: 13440
  • Living Area Sq Ft: 13440
  • Price Per Sq Ft: 163.69
  • Above Grade Finished Sq Ft: 13440
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 350 - 360

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Block, Frame
  • Roof: Shingle
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Type Of Parking: Driveway, Off Street

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Window Unit(s)
  • Heating Fuel: Natural Gas
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Schools

  • School District: EWING TOWNSHIP
  • School District Key: 803486707060
  • School District Source: Listing Agent

Lot Info

  • Lot Size Units: Square Feet
  • Lot Sq Ft: 0.57
  • Year Assessed: 2023
  • Zoning: R-2

Rental Info

  • Total Actual Rent: 270264.00
  • Vacation Rental: No

Multi Family

  • Gross Income: 270264.00

Tax Info

  • Tax Annual Amount: 38506.00
  • Assessor Parcel Number: 02-00309-00023
  • Tax Year: 2023

MLS Schools

  • School District Name: EWING TOWNSHIP

Map

Range of Values:

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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 Change Sq Ft Price
06/19/2025 06/19/25 For Sale $2,200,000 -- $164 / Sq Ft
Source: Bright MLS

Source: Bright MLS

MLS Number: NJME2060682

Bright MLS

New Jersey Mercer County Ewing 08618 Glendale

350 - 360 Concord Ave, Ewing, NJ

This home is located at 350 - 360 Concord Ave, Ewing, NJ 08618 and is currently priced at $2,200,000, approximately $163 per square foot. This property was built in 1938. 350 - 360 Concord Ave is a home located in Mercer County with nearby schools including Ewing High School.

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Tim Crew
Listing Agent
Tim Crew
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BHHS Fox & Roach - Princeton
(609) 552-0801