For Sale
$150,000

260 Grant St Salem, NJ 08079

High-yield twin home, 100% occupied.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
138
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
Commercial real estate
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

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FAQs

What type of property is this?
Commercial real estate - High-yield twin home, 100% occupied.
Where is the commercial real estate located?
The property is located at 260 Grant St Salem, NJ.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: $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.
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 access a private listing?
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Contacts

Richard Clarke
Richard Clarke
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Useful Information

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Grant St
Salem, NJ 08079

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Grant St
Salem, NJ 08079

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

260 Grant St
  • Richard Clarke
    Richard Clarke
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