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44 Lincoln Pl

North Plainfield Boro, NJ 07060
  • $800,000
  • STATUS: Active
  • ON SITE: 53 Days
  • MLS #: 3746869
UPDATED: 157 min ago
$800,000
  • 10
    BEDS
  • 0.13
    ACRES
  • 6
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1930
County:

School Information

Elementary School:
Middle School:
High School:

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.

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Garden State MLS logo © 2021 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Provident Legacy Real Estate Services, LLC. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Provident Legacy Real Estate Services, LLC are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2021-12-08T23:46:28.3.
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44 Lincoln Pl North Plainfield Boro, NJ 07060

  • Price: $800,000
  • Status: Active
  • On Site: 53 Days
  • Updated: 157 min ago
  • MLS #: 3746869
10
Beds
6
Baths
0
½ Baths
0.13
Acres
1930
Built
County:
Somerset
Area:
North Plainfield Boro
Elementary School:
Somerset
Middle School:
N Plainfld
High School:
N Plainfld
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.
Exterior Features

Approximate Lot Size 56X100 Color Of Building Beige Bric Exterior Description BrickVinyl Siding Lot Description Corner Number Of Parking Spaces 4 Parking Driveway Description 1 Car WidthCrushed StoneDriveway-ExclusiveOff-Street ParkingOn-Street Parking Roof Description FlatRubberized

Interior Features

Basement Yes Basement Description FullUnfinishedWalkout Cooling Window A/C(S) Heating 1 UnitRadiators - Steam Interior Features Carbon Monoxide DetectorFire ExtinguisherSmoke Detector Total Number Of Rooms 22 Unit1 Appliances Equipment Carbon Monoxide DetectorKitchen Exhaust FanRange/Oven - GasSmoke Detector Unit1 Baths 1.0 Unit1 Bedrooms 3 Unit1 Fireplaces 0 Unit1 Handicap Modified No Unit1 Levels 1 Unit1 Room Description BedroomsEat-In KitchenLiving Room Unit1 Rooms 5 Unit1 Security Deposit 1425 Unit1 Sq Ft 600 Unit2 Appliances Equipment Carbon Monoxide DetectorKitchen Exhaust FanRange/Oven - GasSmoke Detector Unit2 Baths 1.0 Unit2 Bedrooms 3 Unit2 Fireplaces 0 Unit2 Levels 1 Unit2 Room Description BedroomsEat-In KitchenLiving Room Unit2 Rooms 5 Unit2 Sq Ft 600 Unit3 Baths 1.0 Unit3 Bedrooms 2 Unit3 Fireplaces 0 Unit3 Levels 2 Unit3 Room Description BedroomsEat-In KitchenLiving Room Unit3 Rooms 4 Unit3 Sq Ft 500 Unit4 Appliances Equipment Carbon Monoxide DetectorKitchen Exhaust FanRange/Oven - GasSmoke Detector Unit4 Baths 1.0 Unit4 Bedrooms 2 Unit4 Fireplaces 0 Unit4 Levels 2 Unit4 Room Description BedroomsEat-In KitchenLiving Room Unit4 Rooms 4 Unit4 Sq Ft 500

Property Features

Assessment Total 235000 Building Assessment 130000 Easement Unknown Expenses Include Cold WaterGarbage CollectionHeatTaxes Fha Age Restricted No Fuel Type Gas-Natural Gross Operating Income 88800 Land Assessment 105000 Net Operating Income 63657 Renovated Year 2014 Services Cable Tv AvailableFiber Optic Available Sewer Public Sewer Tax Amount 9193 Tax Rate Amount 3.912 Tax Rate Year 2020 Tax Year 2020 Total Operating Expense 25143 Unit Style 3-Three Story Unit1 Owner Tenant Pays Owner Pays HeatTenant Pays ElectricTenant Pays Gas Unit1 Rent 1425 Unit2 Handicap Modified No Unit2 Owner Tenant Pays Owner Pays HeatTenant Pays ElectricTenant Pays Gas Unit2 Rent 1425 Unit2 Security Deposit 1425 Unit3 Handicap Modified No Unit3 Owner Tenant Pays Owner Pays HeatTenant Pays ElectricTenant Pays Gas Unit3 Rent 1350 Unit3 Security Deposit 1350 Unit4 Handicap Modified No Unit4 Owner Tenant Pays Owner Pays HeatTenant Pays ElectricTenant Pays Gas Unit4 Rent 1325 Unit4 Security Deposit 1325 Utilities ElectricGas-Natural Water Public Water Water Heater Gas Year Built Description Approximate

Listing information © 2021 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Era Suburb Realty.


Garden State MLS logo © 2021 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Provident Legacy Real Estate Services, LLC. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Provident Legacy Real Estate Services, LLC are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2021-12-08T23:46:28.3.
 
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