Property Listing No Longer Available for Sale

56-60 Cedar Ave., Highland Park, NJ

Multi-family for Sale - $699,000 - 8,950 Sq. Ft. on 0.16 acres


Property Info

CIMLS#809239
Location
  56-60 Cedar Ave.
  Highland Park NJ 08904
UpdatedSeptember 29th, 2016
TypeMulti-family
Price$699,000
Building8,950 Sq. Ft.
Land0.16 acres

Property Description

2 story frame rental with 6 spacious one bedroom apartments with 9 foot ceilings, refinished wood floors, LR, DR, kitchen, pantry, full bath and bedroom. All to code. Semi private entrances with porch/balcony access. Tenants pay for electric, owner pays for gas/heat, water/sewer. Each apartment has a basement storage area. Parking on one way quiet street.

Very well maintained property in very good condition, current owner since 1978. Roof resealed two years ago, aluminum siding, storms on all windows.

Prime location within walking distance to downtown New Brunswick, resteraunts, theaters, Rutgers, parks and places of worship. Easy access to Rts. 18, 27, Turnpike and Metro train center.

Please contact me for more info. 908-208-3735/motoguzzi99@gmail.com Thanks, Stan


Financials

Total income-90,336

Net income after expenses-61,261

ROI AT ASKING PRICE-8.4%

Taxes-16,500, Gas-4050, Common electric-100 Insurance 4,725, Water/sewer-1,700, Reserve for maintenance-2,000.

Total operation expenses- 29,075



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