Three-Family Property With
11-13-15 Mageira St, South River, NJ 08882
For Sale
$949,900
Pending
Multi-unit property with separate basement areas, laundry hookups, off-street parking, and outdoor space.
Property Size4,270 SF
Days on Market49
Property Features for 11-13-15 Mageira St
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
outdoor space
laundry hookups
storage
Building Details
Building Size
Year Built
Stories
Listed By:
DANA L. JENSEN FERNANDES
(732) 371-0712
Source:
Elliman
Added: Sep 22
Changed: Oct 30
Last Checked: Nov 8 at 5:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of DANA L. JENSEN FERNANDES
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1916 three-family property includes an owner’s unit arranged across two levels, with 2 bedrooms and 1 bathroom on each floor and a separate entrance to the second floor. The center unit contains 2 bedrooms and 1 full bathroom. The vacant end unit offers 4 bedrooms, potentially 5, along with 2 full bathrooms, including one new bathroom, and a large eat-in kitchen.
Each unit has a separate basement area with laundry hookups and additional storage space. The property also provides off-street parking and outdoor space. A fourth-unit configuration is identified as a possibility, subject to municipal approvals and buyer due diligence. Parks, restaurants, coffee shops, bakeries, shopping, and major highways are located nearby. Walk Score is 32 and bikeScore is 24.
Each unit has a separate basement area with laundry hookups and additional storage space. The property also provides off-street parking and outdoor space. A fourth-unit configuration is identified as a possibility, subject to municipal approvals and buyer due diligence. Parks, restaurants, coffee shops, bakeries, shopping, and major highways are located nearby. Walk Score is 32 and bikeScore is 24.
Key Highlights
- Three‑family property with an owner’s unit spanning two levels
- Unit mix includes 2 bedrooms and 1 bathroom in the owner’s unit on each floor
- Vacant end unit has 4 bedrooms, potentially 5, and 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,463
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,429,260
$1.4M
Cap Rate 7%
$1,020,900
$1.0M
Cap Rate 9%
$794,033
$794.0K
Market Conditions
NOI Build-Up for 4,270 SF
Gross rent
$109.1K $25.56/SF
− Vacancy
−$7.1K −$1.65/SF
EGI
$102.1K $23.91/SF
− OpEx
−$30.6K −$7.17/SF
NOI
$71.5K $16.74/SF
Area
Middlesex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,429,260
Cap Rate 7%
$1,020,900
Cap Rate 9%
$794,033
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$893.3K – $1.19M
NOI $71,463 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$938.1K
$820.8K – $1.09M
NOI $65,664 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$1.11M
$975.6K – $1.30M
NOI $78,049 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 08882, NJ
16,118
Population
5,789
Households
2.8
Avg Household Size
39
Median Age
31%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
5,756
Density / Sq Mi
$101,853
Median Household Income
$51,323
Median Earnings
$1,599
Median Rent
$382,500
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Middlesex County, NJ
Properties on Market for Triplexes in Middlesex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Multi-unit property with separate basement areas, laundry hookups, off-street parking, and outdoor space.
Where is this triplex located?
The property is located at 11-13-15 Mageira St South River, NJ.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Three‑family property with an owner’s unit spanning two levels; Unit mix includes 2 bedrooms and 1 bathroom in the owner’s unit on each floor; Vacant end unit has 4 bedrooms, potentially 5, and 2 full bathrooms
