215 41 StPennsauken Township, NJ 08110

Property Details for 215 41 St

Year built

1954

Lot size

0.06 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents two fully-occupied, two-bedroom, one-bathroom duplex units located at 215 N 41st St, Pennsauken Township, NJ 08110. Built in 1954, this property sits on a 0.06-acre lot and offers a compelling combination of strong current performance and significant upside potential. Currently generating $47,112 in Net Operating Income (NOI) with a 7.20% capitalization rate, pro-forma NOI is projected at $55,206, representing an 8.50% pro-forma cap rate. Each unit boasts private laundry facilities and individually metered utilities, ensuring efficient management and maximizing rental income. Residents enjoy ample off-street parking and a large shared backyard. The property's strategic location provides easy access to major roads and bridges, offering convenient commutes to Philadelphia and nearby amenities. This property is being sold as a package with a neighboring duplex (MLS# NJCD2074734, Tax ID #: 08-01034-00029) for a combined price of $650,000, but is also available for purchase individually for $325,000. This presents a rare chance to acquire high-performing rental properties in a desirable, appreciating area, ideal for both seasoned investors and first-time buyers seeking substantial returns.

Location Insight

City

Pennsauken Township

County

Camden

State

New Jersey

Latitude

39.9539

Longitude

-75.0707

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