Invest in this fully occupied NJ multi-family home for only 225K
People in New Jersey who are interested in real estate are always looking for the next great deal. Even if they don’t actually participate in those deals. Sometimes just playing the imaginary market is fun too.
But what if you’ve finally decided to become a real estate investor? What have you always been told?
Look for something that has a good return on investment in a good area and you can’t lose. Right?
So here may be just the opportunity for you to become a landlord of a three-unit property in Gloucester City which is a solid South Jersey town. And the fact that this listing has three units that are all occupied should say something.
Pending your due diligence, this looks like it could be a great investment opportunity in Gloucester City.
There’s been a lot of buzz lately about this town, considering that it is one of the most well-priced NJ towns when it comes to real estate.
The 3-bedroom apartment on the lower level of 210 South Broadway has a long-term tenant paying $1,100/mo.
Upstairs are 2 units. A 1-bedroom apartment with rental income of $950/mo and studio with $850/mo rent.
Do the math on this and you will see that you are rental income it’s just about $3000. Zillow estimates the monthly cost to be $1779 a month (including property taxes,) assuming a 20% down payment. This is an investment you really might want to look into.
You can also see that there is a fenced-in backyard that all tenants share.
It’s convenient to public transportation, shops and restaurants but the one thing to be careful love is that the properties are being sold “as is.”
That’s not bad in and of itself it could just mean that the person selling the property doesn’t want to do any repair work or have to answer questions that he may not have the answers to.
Again, if you do your due diligence and everything checks out, this could be a great opportunity for a first-time real estate investor, or even a seasoned one.
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Opinions expressed in the post above are those of New Jersey 101.5 talk show host Judi Franco only.
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