Description
Great investment located in Bungalow Park and across from the bay!! This corner property consists of two units: One commercial store rents $1,700 per month ( tenant pays half of the water) and is currently on time, lease is "month/month" and has occupied the unit since 2016. Upstairs needs updating and is large two-story 3 Br 1BA with lots of space and can rent for $1,600-$1,700 per month depending on finishes. Property is being sold strictly "AS IS," and the price is reflective of the condition. Contents of the commercial store belong to the tenant and are not included in the salepossible owner financing with 30% down (short term). $1,730 Cash flow, 19.77% COC ROI (based on 5% vac, 5.5% int, and $50,000 repairs upstairs unit), 16.98 cap rate.
-
0BEDS
-
N/AACRES
-
0BATHS
-
01/2 BATHS
School Ratings & Info
Description
Great investment located in Bungalow Park and across from the bay!! This corner property consists of two units: One commercial store rents $1,700 per month ( tenant pays half of the water) and is currently on time, lease is "month/month" and has occupied the unit since 2016. Upstairs needs updating and is large two-story 3 Br 1BA with lots of space and can rent for $1,600-$1,700 per month depending on finishes. Property is being sold strictly "AS IS," and the price is reflective of the condition. Contents of the commercial store belong to the tenant and are not included in the salepossible owner financing with 30% down (short term). $1,730 Cash flow, 19.77% COC ROI (based on 5% vac, 5.5% int, and $50,000 repairs upstairs unit), 16.98 cap rate.
© 2021 South Jersey Shore Regional MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Oceanside Realty Team | Keller Williams Jersey Shore. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2021-10-24T13:49:53.047.
Listing information © 2021 South Jersey Shore Regional MLS.