Address
44-48 Lincoln Pl North Plainfield Boro, NJ
Price
$ 800,000
Property Attributes
  • MLS#3746201
  • TypeCommercial
  • CountySOMERSET
  • CityNorth Plainfield Boro
  • AreaNorth Plainfield Boro
  • Zip07060
  • Style
  • Year Built1930
  • Taxes$ 9193
  • Price$ 800,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms6
  • Sqr Footage5000
  • Lot Size5,663 SqFt
Listing Provided Courtesy Of:
ERA SUBURB REALTY
Data Source:
Garden State MLS (GSMLS) - 38 - NJ
Property Description

Great investment opportunity, turn key operation, you collect rent since day 1 in a fully occupied property with 6 apartments, 2/3 bedrooms, 2/2 bedrooms, 1/1 bedrooms, 1 studio, all with separate utilities, rents are around 15% below market value, long term tenants, historical very low vacancy rate if any, you can have tenants ready before current occupant leaves, your problem will be to which applicant you will give the apartment, very convenient location for renters, close proximity to public transportation, at walking distance of laundry facilities, supermarkets, houses of worship, schools, municipal building, bakeries, restaurants. Central heat replaced in 2013, tenants pay their own electricity, cooking gas and hot water, landlord only pay water, sewer and property taxes, garbage disposal, heat and insurance. Good return in your investment, do not miss this opportunity. SALE INCLUDES 40X80 VACANT LOT IN BACK OF THE PROPERTYYearly Income: 88,800- Yearly Expenses 63,795 = $25,005 yearly cash return = 12.51% yearly return on $200,000 down payment investment with under market value current rents. See breakdown of income and expenses in mediaRents are at least 10% below market value, room for income increase.

Price History
10/13/2021 Listed $800,000

General Features

Basement Full, Storage, Unfinished, Walkout
Building # 1
Construction Brick/Block, Wood
Cooling Window A/C(s)
Drive 1 Car Width, Crushed Stone, Off-Street Parking, On-Street Parking
Heating 1 Unit, Radiators - Steam
Num Apts 6
Property Type See Remarks
Property Type See Remarks
Roof Asphalt Shingle, Flat
Sewer Public Sewer
Tax Annual Amount 9193
Total Units 6
Town # 2714
Township North Plainfield Boro
Utilities Electric, Gas-Natural
Zoning R4

Interior Features

Fuel Type Gas-Natural
Num 1 Bdrm Units 1
Num 2 Bdrm Units 2
Num 3 Bdrm Units 2
Num Units W/full Bath 6

Exterior Features

Building Area Total 5000
Exterior Description Brick/Block, Vinyl Siding
Lot Dimensions 56X100
Lot Features Corner
Max Ceiling Height 9
Max Door Height 7
Water Source Public Water

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 07060

Price
AVG $400K
$800K
Taxes
AVG $20,839
$9,193
Visits
AVG 250
8
Year Built
AVG 1922
1930
Walkscore
AVG 76
87
Data Provided by Walkscore ® not using MLS data

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