For Sale
$1,150,000

3022 Haddonfield RdPennsauken Township, NJ 08110

High-Yield Multifamily Investment

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 8-unit apartment building, located at 3022 Haddonfield Rd in Pennsauken Township, NJ 08110, presents a compelling investment opportunity. The property boasts 8,304 square feet on a 0.3-acre lot and includes 12 parking spaces. Built in 1987, the building comprises six 2-bedroom/1-bathroom units and one 1-bedroom/1-bathroom unit, all currently rented, generating a substantial monthly income of $9,735. Two additional units function as spacious garages/storage units, each equipped with rolling garage doors, offering further income potential. Each apartment features central air conditioning, individual gas and water meters, and a private washer/dryer, enhancing tenant comfort and convenience. The property's strategic location near major roads and bridges provides easy access to both South Jersey and Philadelphia, attracting a strong pool of renters. Its proximity to the Betsy Ross Bridge (less than three miles) and the border of Cherry Hill offers the advantages of a desirable location without the higher taxes. The current Net Operating Income (NOI) stands at $81,849, with a projected NOI of $100,260, reflecting a 7.10% cap rate and a pro-forma cap rate of 8.70%. The asking price for this high-demand, low-vacancy property is $1,150,000. This multifamily investment offers significant potential for appreciation and strong cash flow, making it an ideal addition to any portfolio.

Highlights

  • Prime location minutes from major roads and bridges, offering easy access to Philadelphia.
  • Fully occupied, generating steady income in a strong rental market.
  • Each unit features central AC, in-unit washer/dryer, and assigned parking.

Property Details for 3022 Haddonfield Rd

Property type
Apartment buildings
Square Feet
8,304 SF
Year Built
1987
Lot Size (sq. ft)
13,068 SF
Units
8

Location Insight

City
Pennsauken Township
County
Camden
State
New Jersey
Latitude
39.9675011
Longitude
-75.0234228
3022 Haddonfield Rd, Pennsauken Township, New Jersey

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3022 Haddonfield Rd
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