354 S Main St
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354 S Main St
5 Unit Apartment Building $2,317,722 CAD ($463,544 CAD/Unit) 6.47% Cap Rate Wharton, NJ 07885
Investment Highlights
- 5 COMPLETELY RENOVATED UNITS WITH 3 ADDITIONAL UNITS TO BE APPROVED BY NEW BUYER
- GREAT TENANTS , GREAT LOCATION AND PLENTY OF UPSIDE ON LOT
- NEW ROOFS AND UTILITES
Executive Summary
Discover an unparalleled investment opportunity in the heart of the real estate market! This expansive property, covering over half an acre with 2 separate buildings, stands as one of the largest lots in town. Located in a B-1 Zoning District (Neighborhood Business District), it offers remarkable flexibility and potential. Both buildings have undergone complete renovation and rehabilitation, including new roofs, kitchens, bathrooms, utilities, and more. This ensures a low-maintenance, high-yield investment for years to come. Currently configured with 4 renovated apartments and 1 office space with full kitchens and bathrooms, the property boasts an impressive income potential exceeding $138,000 annually! We have created comprehensive floor plans and future plans to add 3 additional units to the front building, which has partial approvals. This will allow you to thoroughly explore every aspect of this unique offering. With the potential to expand to 8 units, the gross income could reach an astounding $220,000. This exceptional opportunity, with its strategic location and extensive renovations, ensures a sustainable and profitable investment for discerning investors. Don't miss out on the chance to secure a prime piece of real estate that promises significant returns and long-term growth. Let's collaborate to analyze the numbers, align with your goals, and make this exceptional investment opportunity yours today!
Data Room Click Here to Access
- Market Information
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$186,092
|
$37.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$186,092
|
$37.22
|
| Taxes |
$28,359
|
$5.67
|
| Operating Expenses |
$7,832
|
$1.57
|
| Total Expenses |
$36,192
|
$7.24
|
| Net Operating Income |
$149,900
|
$29.98
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $186,092 |
| Annual Per SF | $37.22 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $186,092 |
| Annual Per SF | $37.22 |
| Taxes (CAD) | |
|---|---|
| Annual | $28,359 |
| Annual Per SF | $5.67 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $7,832 |
| Annual Per SF | $1.57 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $36,192 |
| Annual Per SF | $7.24 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $149,900 |
| Annual Per SF | $29.98 |
Property Facts
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
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PROPERTY TAXES
| Parcel Number | 39-02011-0000-00014 | Total Assessment | $919,865 CAD |
| Land Assessment | $239,633 CAD | Annual Taxes | $28,359 CAD ($5.67 CAD/SF) |
| Improvements Assessment | $680,232 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
39-02011-0000-00014
Land Assessment
$239,633 CAD
Improvements Assessment
$680,232 CAD
Total Assessment
$919,865 CAD
Annual Taxes
$28,359 CAD ($5.67 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | B-1 Commercial (Business) |
| B-1 Commercial (Business) |
-
Mohamad Sankar -
KW Commercial
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354 S Main St
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