Investment opportunity! 14-unit mixed use apartment building in the center of the black horse pike in Runnemede, New Jersey. This property sits within a close proximity to Philadelphia just over the Walt Whitman bridge. Making an excellent choice for tenants that commute.
The property offers 10 apartments with 4 first floor commercial store fronts currently combined into two units and two detached garages for additional income. The unit mix is ideal for this community offering (3) studio apartments, (4) 1 bd/1 bth apartments, (2) 2 bd/ 2 bth apartments and (1) 2bd/1bth apartments. Each unit is separate metered for utilities offering either boiler- heating, mini splits or forced air. All of the units are currently outfitted with a washer and dryer. The first-floor storefronts and apartments have access to the full basement adding additional square footage to all the units. The building is currently 92% occupied. The tenant for 221-223 lease just ended and that store front will be going for lease soon. The apartments are currently rented 15-25% under the average apartment rental comparable for this area.
The building was recently updated with a brand-new paved parking lot. The exterior was painted, a new roof was installed on section 221-223 two years ago. The roof for section 215-219 is in good condition as well. Some of the units were recently updated with luxurious features.
Please submit all offers through pdf format with POF attached.
Please note the actual address is 215-223 N Black Horse Pike.
Please call for additional information.
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 29th November, 2023 11:40 AM (UTC)
Listing Agent: Nicholas Raio
Listing Office: Penzone Realty
Attribution contact: 8569249444