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334 S Broad St 3 Unit Apartment Building $725,000 ($241,667/Unit) 5.37% Cap Rate Trenton, NJ 08608
EXECUTIVE SUMMARY
Fully Renovated Mixed-Use Gem in Trenton's Premier Mill Hill Neighborhood! Exceptional income-producing property featuring a leased commercial retail space plus three beautifully updated residential units — two 2BR/1BA apartments and one 1BR/1BA unit. All units have been fully renovated with modern finishes. Two units are currently leased, with one 2-bedroom unit available for immediate rental, offering added income potential. Located in Trenton’s most desirable and historic neighborhood, Mill Hill, known for its charm, walkability, and proximity to downtown, transit, and the CURE Arena. Solid 5.37% cap rate makes this a turn-key investment with steady returns and long-term growth potential.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$72,009
|
$12.20
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$72,009
|
$12.20
|
| Taxes |
$11,592
|
$1.96
|
| Operating Expenses |
$21,473
|
$3.64
|
| Total Expenses |
$33,065
|
$5.60
|
| Net Operating Income |
$38,944
|
$6.60
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $72,009 |
| Annual Per SF | $12.20 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $72,009 |
| Annual Per SF | $12.20 |
| Taxes | |
|---|---|
| Annual | $11,592 |
| Annual Per SF | $1.96 |
| Operating Expenses | |
|---|---|
| Annual | $21,473 |
| Annual Per SF | $3.64 |
| Total Expenses | |
|---|---|
| Annual | $33,065 |
| Annual Per SF | $5.60 |
| Net Operating Income | |
|---|---|
| Annual | $38,944 |
| Annual Per SF | $6.60 |
PROPERTY FACTS Under Contract
| Price | $725,000 | Building Class | C |
| Price Per Unit | $241,667 | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 5,900 SF |
| Cap Rate | 5.37% | Average Occupancy | 80% |
| No. Units | 3 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1900/2018 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | commercial | ||
| Price | $725,000 |
| Price Per Unit | $241,667 |
| Sale Type | Investment |
| Cap Rate | 5.37% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 5,900 SF |
| Average Occupancy | 80% |
| No. Stories | 4 |
| Year Built/Renovated | 1900/2018 |
| Opportunity Zone |
Yes |
| Zoning | commercial |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 720 |
| 2+1 | 2 | - | 1,237 - 1,290 |
Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 11-09803-0000-00030 | Total Assessment | $39,100 (2025) |
| Land Assessment | $25,100 (2025) | Annual Taxes | $11,592 ($1.96/SF) |
| Improvements Assessment | $14,000 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
11-09803-0000-00030
Land Assessment
$25,100 (2025)
Improvements Assessment
$14,000 (2025)
Total Assessment
$39,100 (2025)
Annual Taxes
$11,592 ($1.96/SF)
Tax Year
2024
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334 S Broad St
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