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Multi Family - Alpha, NJ 1140 East Blvd 2 Unit Apartment Building $475,000 ($237,500/Unit) 6.74% Cap Rate Phillipsburg, NJ 08865
Executive Summary
2 unit apartment building consisting of two, 2 bedroom 1 bath units. Both units are rented, both units are separately metered so tenants pay their own utilities. Building was completed renovated in 2010 and includes the following amenities; Washer & dryer in each unit, refrigerator, dishwasher and stove in kitchens, oak kitchen cabinets, tiled kitchens, tiled bathrooms and central Air & heat with each unit having its own thermostat and unit.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$34,176
|
$15.53
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$34,176
|
$15.53
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$13,471
|
$6.12
|
| Net Operating Income |
$20,705
|
$9.41
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $34,176 |
| Annual Per SF | $15.53 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $34,176 |
| Annual Per SF | $15.53 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $13,471 |
| Annual Per SF | $6.12 |
| Net Operating Income | |
|---|---|
| Annual | $20,705 |
| Annual Per SF | $9.41 |
Property Facts
| Price | $475,000 | Building Class | C |
| Price Per Unit | $237,500 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 2,200 SF |
| Cap Rate | 6.74% | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1905/2010 |
| Property Subtype | Apartment | Parking Ratio | 1.82/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R5 - Residential Multifamily | ||
| Price | $475,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 6.74% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1905/2010 |
| Parking Ratio | 1.82/1,000 SF |
| Zoning | R5 - Residential Multifamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
1 1
Property Taxes
| Parcel Number | 02-00031-0000-00005 | Improvements Assessment | $62,900 (2025) |
| Land Assessment | $69,900 (2025) | Total Assessment | $132,800 (2025) |
Property Taxes
Parcel Number
02-00031-0000-00005
Land Assessment
$69,900 (2025)
Improvements Assessment
$62,900 (2025)
Total Assessment
$132,800 (2025)
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Multi Family - Alpha, NJ | 1140 East Blvd
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