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2400 E Edgar Rd , #3

Linden City, NJ 07036
  • $559,500
  • STATUS: Active Under Contract
  • ON SITE: 22 Days
  • MLS #: 3862413
Under Contract
UPDATED: 29 min ago
$559,500
  • 4
    BEDS
  • 0.1
    ACRES
  • 2
    BATHS
  • 1
    1/2 BATHS
  • 1,100
    SQFT
  • $509
    $/SQFT
Type:
Multi-Family
Built:
1929
County:
Union
Area:
Linden City

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Description

Great investment opportunity currently earning 6.5% cap rate. Property is a two family with a mixed-use commercial property. 1st floor has a lease until 2/24Commercial lease is good through 7/31/2027 2nd floor 3-bedroom unit is newly vacant. Both residential units were renovated in 2021. Giant 6-8 car parking lot. Tenants each pay their own utilities.

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Garden State MLS logo © 2023 Garden State Multiple Listing Service, LLC. 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 Tejada Real Estate Partners | RE/MAX Select. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Tejada Real Estate Partners | RE/MAX Select are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2023-09-23T08:46:21.027.
www.ilovenewjerseyrealestate.com/homes/142987135
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2400 E Edgar Rd , #3 Linden City, NJ 07036

  • Price: $559,500
  • Status: Active Under Contract
  • On Site: 22 Days
  • Updated: 29 min ago
  • MLS #: 3862413
4
Beds
2
Baths
1
½ Baths
0.1
Acres
1,100
SQFT
$509
$/SQFT
1929
Built
County:
Union
Area:
Linden City
Property Description
Great investment opportunity currently earning 6.5% cap rate. Property is a two family with a mixed-use commercial property. 1st floor has a lease until 2/24Commercial lease is good through 7/31/2027 2nd floor 3-bedroom unit is newly vacant. Both residential units were renovated in 2021. Giant 6-8 car parking lot. Tenants each pay their own utilities.
Exterior Features

Approximate Lot Size 28X93 Color Of Building Grey Exterior Description Aluminum Siding Lot Description Corner Number Of Parking Spaces 6 Parking Driveway Description 2 Car Width Roof Description Asphalt Shingle

Interior Features

Basement Yes Basement Description Unfinished Cooling Wall A/C Unit(S) Heating 3 Units Total Number Of Rooms 10 Unit1 Appliances Equipment Carbon Monoxide DetectorCeiling Fan(S) Unit1 Baths 1.0 Unit1 Bedrooms 1 Unit1 Fireplaces 0 Unit1 Handicap Modified No Unit1 Levels 1 Unit1 Room Description BedroomsEat-In KitchenKitchenLiving/Dining Room Unit1 Rooms 4 Unit1 Security Deposit 1400 Unit1 Sq Ft 400 Unit2 Appliances Equipment Carbon Monoxide DetectorCeiling Fan(S) Unit2 Baths 1.0 Unit2 Bedrooms 3 Unit2 Fireplaces 0 Unit2 Levels 2 Unit2 Room Description BedroomsDining RoomKitchenLiving RoomStorage Unit2 Rooms 7 Unit2 Sq Ft 900 Unit3 Baths 1.0 Unit3 Bedrooms 0 Unit3 Fireplaces 0 Unit3 Levels 1 Unit3 Room Description See Remarks Unit3 Rooms 2 Unit3 Sq Ft 400

Property Features

Assessment Total 131500 Building Assessment 100000 Easement No Expenses Include UtilitiesInsuranceTaxes Farm Assessment No Fha Age Restricted No Fuel Type ElectricGas-Natural Gross Operating Income 66000 Home Warranty No Land Assessment 31500 Net Operating Income 50000 Renovated Year 2021 Tax Amount 9092 Tax Rate Amount 6.914 Tax Rate Year 2022 Tax Year 2022 Total Operating Expense 16000 Unit Style 2-Two Story Unit1 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays Gas Unit1 Rent 1400 Unit2 Handicap Modified No Unit2 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays Gas Unit2 Rent 2100 Unit2 Security Deposit 2100 Unit3 Handicap Modified No Unit3 Owner Tenant Pays Tenant Pays ElectricTenant Pays GasTenant Pays Water Unit3 Rent 2000 Unit3 Security Deposit 0

Listing information © 2023 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Rite Choice Realty Llc: 908-325-5060.


Garden State MLS logo © 2023 Garden State Multiple Listing Service, LLC. 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 Tejada Real Estate Partners | RE/MAX Select. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Tejada Real Estate Partners | RE/MAX Select are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2023-09-23T08:46:21.027.
 
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Tejada Real Estate Partners | RE/MAX Select
15 Bloomfield Ave
Montclair NJ, 07042