Phillipsburg 8 Unit Investment Property
Warren - $525,000

  • 8 Units
  • 36 Rooms
  • 12 Bedrooms
  • 8 Full Baths
  • 2 Car Att. Garage
  • 3 Car Det. Garage
  • New Roof 02/06
  • Public Sewer & Water
  • Taxes $6,696 2006
  • GOI: $70,140
  • NOI: $47,144
This eight-unit multi-family is situated on a 0.29-acre level lot in the Purcel Hill section of Phillipsburg, New Jersey. There is on site parking available for approximately six vehicles as well as additional off-street parking. The two car attached and the three car detached garages are available for rent to the tenants or to others for storage.

A new asphalt shingle roof was installed in February 2006. The exterior was refinished, summer 2006. Each unit has separate electric meters. An oil-fired forced hot air furnace heats the building. There are two gas-fired hot water heaters. One heater maintains six units and two units by another.

The owners approximate operating expenses of $22,996. include 2006 taxes $6,696, Insurance $4,300, Maintenance $2,700, Oil $5,400, Water $1,000, Sewer $1,100, Gas $1,800. Tenants pay for electric and cable service.

As of January 1, 2007, all eight units are rented providing $5825. in monthly income or $69,900. per year.

Directions: Route 78 West to Exit 3. Route 22 West to Roseberry South. Make left on Green, right at Purcel and left on Mill Street to #819 on left. Mapquest zip code: 08865

For more information contact Sales Representative Allan Layton (908)892-7426 cell


Contact: Allan Layton
Fischer Brokers
789 Rt. 202
Bridgewater, NJ 08807
(908) 685-9444
When you call, please mention house #FTF312

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