For Sale
$150,000

260 Grant StSalem, NJ 08079

High-yield twin home, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
116
This Salem, NJ multifamily property presents a compelling investment opportunity. Priced at $150,000, this fee-simple twin home boasts a 9.95% cap rate and a strong net operating income (NOI) of $14,920. Currently 100% occupied since May 3, 2023, the property generates a monthly rental income of $1,850. The 1,454 square foot building, constructed in 1900 and extensively renovated in 2023, features four bedrooms and one bathroom. Situated on a 3,258 square foot lot, the property is zoned residential. Recent improvements include a new roof (2022-2023) and new windows. The tenant is currently under a Section 8 subsidy program, ensuring consistent rental income. While the property is sold "as is," the current Certificate of Occupancy is valid. Should the city require a new CO, the buyer will be responsible for any necessary repairs. Note that all inspections are for informational purposes only, and interior photos reflect the property's condition prior to the tenant's move-in to respect their privacy. This turnkey investment offers immediate cash flow and significant potential for future appreciation in the desirable Salem, NJ market.

Highlights

  • $150,000 fee-simple twin home in Salem, NJ with a 9.95% cap rate.
  • Strong NOI of $14,920, generating $1,850 monthly rental income.
  • 100% occupied since May 3, 2023, with a Section 8 subsidized tenant.
  • 1,454 sq ft, 4 bed/1 bath, situated on a 3,258 sq ft lot.
  • Extensively renovated in 2023; new roof (2022-2023) and new windows.

Property Details for 260 Grant St

Property type
Square Feet
1,454 SF
Year Built/Renovated
1900/2023
Buildings
1
Stories
2
Units
1

Location Insight

City
Salem
County
Salem
State
New Jersey
Latitude
39.572520523285
Longitude
-75.462674680041
260 Grant St, Salem, New Jersey

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
260 Grant St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message