322 Vine StCamden, NJ 08102

Exceptional investment opportunity awaits with the Firehouse Lofts, a meticulously renovated 10-unit apartment building in Camden, New Jersey's desirable Cooper Point section. This adaptive reuse project, completed in 2022, transformed a historic firehouse into a modern multifamily property boasting 100,000 square feet on a 0.21-acre lot. The building features ten spacious one and two-bedroom apartments, each equipped with in-unit laundry, stainless steel appliances, contemporary fixtures, and abundant natural light. Individual utility meters are installed in each unit for efficient management. Ten off-street parking spaces are provided within a private gated area. The property enjoys a current NOI of $172,925, with a pro-forma NOI of $177,083, resulting in a 7.50% cap rate and a pro-forma cap rate of 7.70%. Located in a certified Opportunity Zone, this property benefits from significant tax advantages. Its prime location offers easy access to Philadelphia via the Benjamin Franklin Bridge, and is within walking distance of schools, universities, businesses, and public transportation. The asking price is $2,300,000. This turnkey property presents a unique cash-flow opportunity with minimal work required, making it an ideal addition to any investment portfolio. The property is zoned R2.