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Jeffrey Lee

cnjhometeam@gmail.com +1(732) 991-0315

$2,400,000

Est. payment - /mo

2,613 Sqft Lot

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID 3991035

Year Built 1953

Annual Tax Amount $18,177

Tax Year 2024

Lot Size 2,613 Sqft

Property Sub-Type Mixed Use

Property Description

Exceptional investment opportunity! This mixed-use property offers strong income potential with both residential and commercial tenants. The building features four 2-bedroom apartments currently rented below market at $4,900/month, with the ability to increase to approximately $8,000/month at market rents. The commercial portion includes a storefront ($2,500/month), a bar/restaurant leased at $4,500/month under a 5-year lease (plus an additional $2,000/year collected for property taxes, with separate utilities), and a Verizon antenna lease generating $11,000/year. Total current monthly income is approximately $12,816, with the potential to reach $19,500, translating to a Gross Operating Income (GOI) $153,792 annually. Estimated expenses include taxes ($18,177-$25,177), insurance ($12,695), and water ($1,500/year). The Net Operating Income (NOI) is currently estimated at $121,420.

Location

State NJ

County Union

Zoning Residential

Rooms

Basement Unfinished

Interior

Heating Gas-Natural

Cooling No Cool, Window A/C(s)

Flooring Tile, Wood

Equipment Appliances, Fire Alarm, Kitchen Area, Restrooms - Private, Smoke Detector

Heat Source Gas-Natural

Exterior

Exterior Feature Vinyl Siding

Utilities Available Gas-Natural

Roof Type Asphalt Shingle

Building

Lot Description Level Lot

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

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Listed by BHGRE ELITE

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Jeffrey Lee

+1(732) 991-0315

Broker Associate - Team Leader | License ID: 0683786

Broker Associate - Team Leader License ID: 0683786

967 Stuyvesant Ave Union Twp., NJ 07083

Jeffrey Lee

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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967 Stuyvesant Ave