225-231 Gibbon Street Salem, NJ 08079
Welcome to 225-231 Gibbon Street, Salem, NJ. This meticulously maintained property presents an exceptional investment opportunity with a smart and strategic approach. Comprising four 3-bedroom, 1-bath townhomes, this income-generating property offers a total of 12 bedrooms and 3 bathrooms across a generous 2380 square feet of living space. Nestled on a total lot size of 5118 square feet, the property boasts newer roofs, adding an invaluable layer of functionality . Each unit is currently occupied, with annual leases in place, ensuring a consistent stream of income for the savvy investor. Notably, three of the four of the townhomes have been recently updated, offering a blend of character and modern convenience. The property's impressive annual gross rental net of $56, 760 and a remarkable 12.74% cap rate underscore its potential as a lucrative addition to any investment portfolio. Photos of 229 and 231 are prior to the recent current tenants' occupancy. Conveniently located in a convenient area, this property presents a rare opportunity to acquire a turnkey investment with strong rental history and promising returns. Don't miss the chance to own this income-generating gem in Salem, NJ. Schedule your showing today and seize this astute investment opportunity.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountySalem
- Taxes$6,721
- HOA/Condo/Coop Fees$0
- Days on Site60 Days
- MLS StatusActive
- MLS ID NumberNJSA2010698
- Home Size Source Assessor
- Year Built1940
- Lot Size0.12 Acres
- Full BathsN/A
- Partial BathsN/A
Sell your house quickly!
Get multiple potential cash offers for your home. Fast and hassle-free!
Learn MoreRecent Activity For 225-231 Gibbon Street Salem, NJ 08079
42 minutes ago | ||
a week ago | ||
3 weeks ago | ||
a month ago | ||
a month ago | ||
See 2 more |
Don't miss a thing!
Get updates on new activity for this listing
General Features
- Style Traditional
- Construction Vinyl Siding
- Parking On Street
- Sewer Public Sewer
- Basement PartialUnfinished
- Acreage 0.12
- Water Public
- Property Sub Type Quadruplex
- Attached Garage No
- Foundation Brick/ MortarStone
- Zoning RES
Interior Features
- Cooling None
- Heating Forced AirNatural GasOil
- Fireplace No
Exterior Features
- Spa No
- Waterfront Property No
- Pool Expense 0
Community Features
- MLS Area Salem City (21713)