354 S Main St Wharton, NJ 07885
Estimated payment $10,905/month
About This Home
Discover an unparalleled investment opportunity in the heart of the real estate market! This expansive property, covering over half an acre with two separate buildings, stands as one of the largest lots in town. Located in a B-1 Zoning District (Neighborhood Business District), it offers remarkable flexibility and potential. Both buildings have undergone complete renovation and rehabilitation, including new roofs, kitchens, bathrooms, utilities, and more. This ensures a low-maintenance, high-yield investment for years to come. Currently configured with four renovated apartments and an office space with full kithchen and bathrooms, the property boasts an impressive income potential exceeding $138,000 annually! We have created comprehensive floor plans and future plans to add three additional units to the front building, which has partial approvals. This will allow you to thoroughly explore every aspect of this unique offering. Potential to 8 units and gross income of $220,000!
Property Details
Property Type
- Other
Est. Annual Taxes
- $20,230
Year Built
- 1900
Home Design
- Asphalt
Map
Home Values in the Area
Average Home Value in this Area
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 | $20,230 | $699,400 | $182,200 | $517,200 |
| 2023 | $20,230 | $675,700 | $182,200 | $493,500 |
| 2022 | $20,231 | $675,700 | $182,200 | $493,500 |
| 2021 | $20,231 | $663,100 | $182,200 | $480,900 |
| 2020 | $14,174 | $455,900 | $182,200 | $273,700 |
| 2019 | $13,631 | $442,000 | $182,200 | $259,800 |
| 2018 | $13,369 | $442,400 | $182,200 | $260,200 |
| 2017 | $13,326 | $436,200 | $182,200 | $254,000 |
| 2016 | $12,419 | $436,200 | $182,200 | $254,000 |
| 2015 | $11,969 | $395,800 | $182,200 | $213,600 |
| 2014 | $12,109 | $396,100 | $182,200 | $213,900 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/03/2024 07/03/24 | For Sale | $1,650,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Bargain Sale Deed | $675,000 | Old Republic Title | |
| Bargain Sale Deed | $675,000 | Old Republic Title | |
| Deed | $475,000 | -- | |
| Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $635,937 | FHA | |
| Closed | $635,937 | FHA | |
| Previous Owner | $400,000 | Commercial | |
| Previous Owner | $356,000 | Commercial | |
| Previous Owner | $356,000 | Commercial |
Source: New Jersey MLS
MLS Number: 24021309
APN: 39-02011-0000-00014
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