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    427 Central Ave Phillipsburg, NJ 08865

    For Sale
    $999,900

    Five-unit apartment building, newly remodeled.

    Property size:
    3,122 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    313
    This exceptional investment opportunity presents a beautifully remodeled five-unit multi-family apartment building located in desirable Alpha Boro, Phillipsburg, New Jersey. The property boasts a total of 3,122 square feet and features a mix of apartment sizes: three one-bedroom units, one two-bedroom unit, and one three-bedroom unit. Undergoing a complete 2024 renovation, this turnkey property is ready for immediate occupancy. Significant upgrades include a brand new roof, new water heaters, new carpeting and luxury vinyl plank flooring (LVP) throughout, updated bathrooms, fresh paint, and contemporary kitchens featuring new cabinets, countertops, and stainless-steel appliances. The exterior has been revitalized with new vinyl siding, shutters, and a freshly painted block facade. Ample off-street parking is provided by a newly installed paved patio and a stone parking lot. Each unit enjoys its own private entrance, enhancing resident privacy. Separate electric meters simplify management and utility billing. A basement offers additional storage space, with potential for the addition of coin-operated laundry facilities to further increase revenue. This property offers a hassle-free entry into the thriving rental market, presenting a strong return on investment for the discerning buyer. The combination of modern updates, desirable location, and ample parking makes this a truly remarkable investment opportunity.

    Property Features for 427 Central Ave

    General Information

    Property type
    Residential income properties
    Square Feet
    3,122 SF

    Building Details

    Year Built
    1880
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Phillipsburg
    County
    Warren
    State
    New Jersey
    Longitude
    -75.15504
    Latitude
    40.66335

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    FAQs

    What type of property is this?
    Residential income property - Five-unit apartment building, newly remodeled.
    Where is this residential income property located?
    The property is located at 427 Central Ave Phillipsburg, NJ.
    What is the asking price?
    The asking price for this property is $999,900.
    (610) 867-8888
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    427 Central Ave Phillipsburg, NJ 08865
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