This beautiful 2-family free-standing colonial was beautifully gut-renovated 4 years ago. It is not subject to any kind of rent control. The current market rents equate to a Cap Rate of 6.6%. Tenant in Unit 2 is on a month-to-month lease, so you can raise rent upon purchase. Tenants in Unit 1 have a lease until Feb 2023, at which point you can raise to your desired rate. Each unit has a desirable outdoor space, in-unit washer/dryer, and ring doorbell systems. Additional storage space in basement. 2 small-car dedicated parking spaces in front of the building. The first floor apartment has 1 bedroom and 1 bathroom with direct access to the backyard which has a beautiful shade tree and paving stones. Second floor unit has 2 bedrooms and 2 full bathrooms, one of which is a large en-suite. It has a fireplace and a steel deck that is about 6×10 shaded well by the stunning shade tree in the yard. All utilities billed separately except the sewer. Gas-fired heater, Mini-split A/C and split-heat-pump system. Unit 1 Rent is currently $1950 due to COVID reduction, but market would easily allow raising to $2150 Unit 2 Rent is currently $2100 due to COVID reduction, but market would easily allow raising to $2300

Date Added: 5/26/22 at 4:00 am
Last Update: 7/11/22 at 10:44 pm

This listing is coming from Agent DIANA SUTHERLIN at Office compass new jersey, llc

Lot

  • Zoningy

Interior

  • BasementFull
  • A/CHeat Pump

Exterior

  • GeneralAluminum/ Vinyl
  • StyleColonial

Schools

  • DistrictUnion City School District

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