967 Stuyvesant Ave, Union Twp., NJ 07083
sale
$2,400,000
|
Other
Courtesy Of Better Homes and Gardens RE Elite
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.
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Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 6
- Cooling System: None (Cooling)
- Exterior Type: Vinyl Siding
- Floor Covering: Wood
- Floor Covering: Tile
- Floors: 3
- Heating System: Baseboard
- Heating System: Hot Water (Heating)
- MLSID: 3991035
- Roof Type: Asphalt
- Roof Type: Shingle
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