9-15 1St StElizabethport, NJ 07206

Property Details for 9-15 1St St

Lot size

0.12 AC

Property type

Commercial real estate

Description

This exceptional investment property, located at 9-15 First Street in Elizabethport, NJ, presents a lucrative opportunity for discerning investors. The 0.12-acre lot encompasses a mixed-use building featuring three 2-bedroom apartments, each boasting 1.5 bathrooms, and a substantial approximately 2000 square foot garage currently operating as a successful bike shop. The apartments generate a combined monthly rental income of $8,085, with individual rents of $1,700, $1,675, and $1,700 respectively. The commercial garage space contributes an additional $3,000 per month in rental income, resulting in a strong total monthly revenue stream. Separate utility meters ensure efficient cost allocation for both residential and commercial tenants. This property offers a compelling blend of residential and commercial income, providing a diversified investment portfolio with significant potential for future appreciation. The property is priced at $1,200,000, representing a solid return on investment. The existing tenant in the garage space provides immediate cash flow, while the apartments offer stable long-term rental income. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location. The property's size and layout offer flexibility for future development or expansion, further enhancing its investment potential. Serious inquiries are encouraged.

Location Insight

City

Elizabethport

County

Union

State

New Jersey

Latitude

40.6466

Longitude

-74.1902

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