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482 S Main St
Phillipsburg, NJ 08865
Opportunity Zone 13 units Value-Add · Multifamily Property For Sale
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13 Units
Property Facts
| No. Units | 13 | Building Size | 10,000 SF |
| Property Type | Multifamily | Average Occupancy | 69% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1930/2017 |
| Building Class | C |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 10,000 SF |
| Average Occupancy | 69% |
| No. Stories | 3 |
| Year Built/Renovated | 1930/2017 |
About 482 S MAIN ST , PHILLIPSBURG, NJ 08865
High vacancy property in need of personal on-site management. High cap rate at stabilization, creating strong cash flow. All figures are pro-forma. 13 rental units and 3 garages. Property is located in an Opportunity Zone. Opportunity Zones are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds that are dedicated to investing into Opportunity Zones designated by the chief executives of every U.S. state and territory. https://eig.org/opportunityzones
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 6 | - | - |
| 3+1 | 1 | - | - |
| Studios | 1 | - | - |
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