Listed by Heritage Real Estate, Inc
$129,000
518 S College Street
Details
APN 107E D 005.00
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 2,466
Net Rentable (SqFt) 3,000
Units 3
NOI $1,200
Occupancy 100%
Pro-Forma Cap Rate 12.00%
Pro-Forma NOI $2,000
Price per SqFt $69
Broker Co-Op Yes
Year Built 1931
Buildings 1
Stories 2
Acreage 0.400
Zoning H1
Parking Spaces 3 spaces
Parking Per SqFt 1.22
Investment Type Value Add
Ownership Private
Multifamily | 3 Units
Marketing description
INCOME PRODUCER! Well-preserved and full of character, this property, located on Trenton's historic College Street, gives the buyer OPTIONS, which include keeping it as an income-producing triplex, or living in one unit while leasing the other two, or returning it to a single family home with 3 bedrooms and 3 baths. It has front and rear entrances into a common area, beautiful hardwood floors, with stoves, refrigerators, washers and dryers included in two of the units. Total square footage is over 3,400, sitting on nearly half an acre just blocks from the downtown business district. Call today! All information deemed accurate but is not warranted by the seller, company or REALTOR. This document is to be used for reference only and is not a valid part of the listing agreement between the buyer and seller. Square footage to be determined by appraiser.
Investment highlights
$22,000 a year in rent income. Located in the historic district but grandfathered for multi-family use.
Rent is $1,850 a month. No shortage of renters in the area as new and expanding indutries have increased the demand for rent property.
Can be easily converted back to a single-family unit.
Walking distance to courtsquare shopping, dining.
Common area spearates the two ground units.
Appliances included in 2 of 3 units.
Listing Contacts
Listed by Heritage Real Estate, Inc
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,200.00
$100.00/mo
Valuation Metrics
0
DSCR
0.93%
Cap Rate
0.93%
ROI
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