NOT LISTED FOR SALE

6 26- 28 East Ave Salem, NJ 08079

-- Bed
-- Bath
2,000 Sq Ft
6,750 Sq Ft Lot

Last Sold August 12, 2022

Last sale price $315,000 $158 Per Sq Ft

338 Days on Market

Highlights

  • No HOA
  • Dwelling with Rental
  • Heating System Uses Oil

About This Home

As of August 2022

5 Unit income producing/investment property! 2 separate buildings on the same block and lot conveniently located on the corner of Rt 49 and East Ave. in desirable Quinton Township with public sewer. Buildings consist of, 1-3 bedroom unit, 2-2 bedroom units, 1-1 bedroom unit, and 1 unfinished unit with potential for either residential or commercial use (pending township approval). Each unit has it's own laundry connection. 3 units are currently occupied by long term residents, with one of them being grounds keeper/maintenance man. Excluding the unfinished unit, all units are well maintained and producing rental income. Property has met all township required inspections and requirements. The unfinished unit was in the process of being constructed as a residential unit with the capability of housing another 1 bedroom unit. This property has the potential to produce a greater income than currently being collected. Schedule your showing today and let this property start working for you!

Last Agent to Sell the Property

Neal Sheppard

Warner Real Estate & Auction Company Listed on: 07/10/2021

Last Buyer's Agent

Kate Henderson

Keller Williams Hometown

Keller Williams Hometown

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,217

Year Built

  • Built in 1920

Lot Details

  • 6,750 Sq Ft Lot
  • Lot Dimensions are 50.00 x 135.00
  • Ground Rent

Parking

  • On-Street Parking

Home Design

  • Dwelling with Rental

Interior Spaces

  • 2,000 Sq Ft Home
  • Basement Fills Entire Space Under The House

Utilities

  • Window Unit Cooling System
  • Heating System Uses Oil
  • Electric Water Heater

Listing and Financial Details

  • The owner pays for sewer, snow removal, real estate taxes, water, lawn/shrub care
  • Tax Lot 00001
  • Assessor Parcel Number 12-00025-00001

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 1 Vacant Unit
  • Income includes apartment rentals

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,217

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Architectural Style: Dwelling With Rental
  • Ownership: Fee Simple
  • Historic: No
  • Home Warranty: No
  • New Construction: No
  • Year Built: 1920
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Remarks Public: 5 Unit income producing/investment property! 2 separate buildings on the same block and lot conveniently located on the corner of Rt 49 and East Ave. in desirable Quinton Township with public sewer. Buildings consist of, 1-3 bedroom unit, 2-2 bedroom units, 1-1 bedroom unit, and 1 unfinished unit with potential for either residential or commercial use (pending township approval). Each unit has it's own laundry connection. 3 units are currently occupied by long term residents, with one of them being grounds keeper/maintenance man. Excluding the unfinished unit, all units are well maintained and producing rental income. Property has met all township required inspections and requirements. The unfinished unit was in the process of being constructed as a residential unit with the capability of housing another 1 bedroom unit. This property has the potential to produce a greater income than currently being collected. Schedule your showing today and let this property start working for you!
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Yes
  • Basement Type: Full
  • Total Sq Ft: 2000
  • Living Area Sq Ft: 2000
  • Price Per Sq Ft: 192.50
  • Above Grade Finished Sq Ft: 2000
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 6

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Block, Combination
  • 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
  • Cooling Fuel: Electric
  • Cooling Type: Window Unit(s)
  • Monthly Average Electric: 25
  • Previous Twelve Months Electric Expense: 300.00
  • Heating Fuel: Oil, Electric
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Private
  • Municipal Trash: No

Condo/Co-op/Association

  • HOA: No

Schools

  • School District: QUINTON TOWNSHIP PUBLIC SCHOOLS
  • School District Key: 300200396390
  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Improvement Assessed Value: 276700.00
  • Land Assessed Value: 14800.00
  • Lot Size Acres: 0.15
  • Lot Dimensions: 50.00 x 135.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 6750.00
  • Year Assessed: 2021
  • Zoning: VR
  • Zoning Description: Village Residential

Rental Info

  • Existing Lease Type: Month To Month
  • Ground Rent Exists: Yes
  • Number Of Units Month To Month: 4
  • Owner Pays: Sewer, Snow Removal, Taxes - Real Estate, Water, Lawn/Shrub Care
  • Total Actual Rent: 41700.00
  • Units Leased Count: 5
  • Vacation Rental: No

Multi Family

  • Number Of Units Vacant: 1
  • Income Expense List: Annual Ground Rent
  • Income Includes: Apartment Rentals
  • Other Units: Unit 5

Tax Info

  • Assessor Parcel Number: 2214019
  • Tax Annual Amount: 9217.00
  • Assessor Parcel Number: 12-00025-00001
  • Tax Lot: 00001
  • Tax Total Finished Sq Ft: 2000
  • Tax Data Updated: No
  • Tax Year: 2021
  • Close Date: 08/12/2022

MLS Schools

  • School District Name: QUINTON TOWNSHIP PUBLIC SCHOOLS

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
08/12/2022 08/12/22 Sold $315,000 -18.2% $158 / Sq Ft
06/13/2022 06/13/22 Pending -- -- --
07/10/2021 07/10/21 For Sale $385,000 -- $193 / Sq Ft
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: NJSA2000354

Bright MLS