DUPLEX WITH INCOME IN PLACE, A VACANT UNIT, AND VALUE-ADD POTENTIAL! Welcome to 288 South Avenue in Bridgeton, an up-and-down duplex offering two 2-bedroom, 1-bathroom units, separate electric utilities, an oversized lot, abundant off-street parking, and an opportunity for immediate flexibility. Unit A is currently occupied and generating $15,900 in… Read More annual rental income, while Unit B is VACANT and ready for its next use. That combination creates an attractive opportunity for a buyer looking to enter the multifamily market by occupying one unit while collecting rental income from the other - potentially helping offset monthly housing expenses while beginning to build a real estate portfolio. For an experienced investor, the vacant unit provides the opportunity to immediately prepare and lease the space at current market terms without waiting for an existing lease to expire. Based on estimated market rents, total gross rental income could potentially reach approximately $33,600 annually when both units are leased at projected market rates. At the offered price, projected performance could result in a PRO FORMA CAP RATE EXCEEDING 11%, subject to actual rents, expenses, occupancy, management, maintenance, and other operating costs. Buyers should perform their own due diligence regarding projected rents and investment performance. The property is also set up with separate electric utilities, including separate electric hot water heaters, helping simplify utility responsibility between the two units. Outside, the EXTRA-LARGE LOT adds another dimension to the property, with plenty of off-street parking, a storage shed, and substantial additional outdoor space. Whether you're looking for an opportunity to occupy one unit while generating income from the other or seeking another multifamily property for an established portfolio, 288 South Avenue offers a compelling combination of CURRENT INCOME, VACANCY FLEXIBILITY, AND FUTURE UPSIDE. Schedule your showing and explore the possibilities! Read Less
Courtesy of Michael DePalma, DePalma Realty, 856-825-5500
Listing Snapshot
Days Online
34
Last Updated
Property Type
Duplex
Square Ft.
1,920
Lot Size
0.25 Acres
Year Built
1900
MLS Number
NJCB2032798
Additional Details
Building
Built in 1900, Living area: 1920
Cooling
None
Accessibility Features
None
Heating
Forced Air
Lot
0.25 acres
Property
Other structures: Above Grade, Below Grade
Sewer
Public Sewer
Taxes
Annual Amount: $4,307, Lot: 00014, Year: 2025, Zoning: MULTI
Utilities
Water Source: Public
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
This information is provided exclusively for consumers' personal, non-commercial use; that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by BrightMLS. Information may appear from many brokers but not every listing in BrightMLS is available. This content last updated on .
Confirm your time
Fill in your details and we will contact you to confirm a time.