NEW JERSEY PACKAGE DEAL - PENNS GROVE , NEW JERSEY

[AJ Neal]

Property Address 111-119 E Main Street Penns Grove, NJ 08069 

This property is comprised of two buildings on two separate lots.

111 East Main St. is a three unit dwelling.
Each of the two residential units contains two bedrooms and one bath.
The commercial unit used to be a tavern.
Property is vacant.

119 East Main St. is a four bedroom, one bath single-family dwelling currently occupied but can be delivered vacant if required.
AS-IS CA$H Price: $98k
Repair Estimate: Light Rehab to prepare for renting
Potential Rents: $2,600 - $2,900 / month ($800-$900 per unit for the 2 bed units) + $1,000-$1,100
for the 4 bed single family) Estimated GOI: $31,200 - $34,800 / year Estimated NOI (using 45% Expense Ratio): $17,160 - $19,140 / year PLUS whatever you can get for the commercial unit!!!