Homes for sale - 123 S Stevens AVE, South Amboy, NJ 08879

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Angelo Negron

realestatebylo@gmail.com +1(908) 838-3303

$ 699,000

Est. payment | -/mo

2,480 SqFt

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$ 699,000

Est. payment | -/mo

Save Virtual Tour

2,480 SqFt

Key Details

Property Type Multi-Family

Sub Type 2 Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,480 sqft

Price per Sqft $281

MLS Listing ID 2513971R

Year Built 1914

Annual Tax Amount $8,576

Tax Year 2023

Lot Size 2,500 Sqft

Acres 0.0574

Lot Dimensions 100.00 x 0.00

Property Sub-Type 2 Family

Source CJMLS API

Property Description

Turnkey 2-Unit Investment Property in Prime South Amboy Location - 6.52% Cap Rate (30% expense ratio) Welcome to 123 South Stevens Avenue a fully renovated, cash-flowing multi-family property located in the heart of South Amboy. This meticulously updated two-family home offers an ideal opportunity for investors seeking strong rental income or owner-occupants looking to live in one unit while generating income from the other, or have the option of a fully rented building with 8 months left on the lease. The ground-level unit features 3 spacious bedrooms and 1 bathroom, currently leased at $3,080/month. This unit can be delivered vacant at closing if the buyer wishes to occupy it, or kept rented for continued income. The second-floor unit offers 2 bedrooms and 1 bathroom, generating $2,355/month. Both units have been thoughtfully renovated with modern finishes, ensuring long-term tenant satisfaction and minimal upkeep. With a gross annual rental income of $65,220 and estimated Net Operating Income of $45,654, this property delivers a 6.5% cap rate at the $700,000 asking price making it a compelling option for investors seeking immediate cash flow in a thriving market. Additional features include a private backyard perfect for relaxing or entertaining, and ample street parking. Tenants pay their own utilities, keeping owner expenses low. Showings are limited out of respect for tenants. Serious buyers are encouraged to review photos and financials. Private showings will be accommodated for those prepared to make an offer, contingent on a walkthrough to confirm the property's condition. Whether you're looking to expand your portfolio or secure a home with income potential, 123 South Stevens Avenue is a rare and flexible opportunity you won't want to miss.

Location

State NJ

County Middlesex

Rooms

Basement Full, None

Interior

Interior Features Unit 1(3 Bedrooms, 1 Bath), Unit 2(2 Bedrooms, 1 Bath)

Heating Baseboard

Cooling A/C Central - All

Appliance Water Heater(Gas), Water Heater

Heat Source Natural Gas

Exterior

Utilities Available Electricity Connected, Natural Gas Connected

Building

Lot Description See Remarks

Story 2

Sewer Public Sewer

Water Public

Others

Senior Community no

Tax ID 2000044000000002

Ownership Fee Simple

Energy Description Natural Gas

Virtual Tour https://www.propertypanorama.com/instaview/msx/2513971R

Listed by REAL

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(908) 838-3303

realestatebylo@gmail.com

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