Three-Unit Residential
New
For Sale
$420,000
225 DELSEA DRIVE, Westville, NJ 08093
One apartment is vacant, while two remain tenant-occupied, providing a mix of current rental occupancy and leasing flexibility.
Property Size2,490 SF
Price / SF$168.67
Days on Market4
Property Features for 225 DELSEA DRIVE
General Information
Standard status
Active
Size
2,490 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Amenities
fenced yard
storage shed
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Ovation Realty LLC
(856) 446-0405
Listed By:
Christopher Bisono
(856) 419-7095
Source:
Cummingsrealtors
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 24 at 3:14PM
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 Ovation Realty LLC
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Investment Insights
Based on property information with market context.
This 2,490-square-foot triplex in Westville contains three residential units, with two occupied and one vacant. The vacant apartment has laminate plank flooring, stainless steel appliances, butcher block kitchen counters, an updated bathroom with a new tub surround, vanity, and toilet, plus central forced-air heating. The other two units retain their original finishes. Built in 1910, the property is offered in as-is condition.
Outdoor features include a fenced rear yard with mature trees and a storage shed. The property is located on Delsea Drive in Westville, with access to local retail, dining, and regional commuter routes.
Outdoor features include a fenced rear yard with mature trees and a storage shed. The property is located on Delsea Drive in Westville, with access to local retail, dining, and regional commuter routes.
Key Highlights
- Three residential units; two are tenant‑occupied and one is vacant
- 2,490 square feet; built in 1910
- Vacant unit includes laminate plank flooring and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,717
Cap Rate
7.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,340
$654.3K
Cap Rate 7%
$467,386
$467.4K
Cap Rate 9%
$363,522
$363.5K
Market Conditions
NOI Build-Up for 2,490 SF
Gross rent
$49.3K $19.80/SF
− Vacancy
−$2.6K −$1.03/SF
EGI
$46.7K $18.77/SF
− OpEx
−$14.0K −$5.63/SF
NOI
$32.7K $13.14/SF
Area
Gloucester County, NJ
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,340
Cap Rate 7%
$467,386
Cap Rate 9%
$363,522
Alternative Uses
Best Use
Multifamily LT 5
$467.4K
$409.0K – $545.3K
NOI $32,717 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$415.8K
$363.8K – $485.1K
NOI $29,104 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$837.0K
$732.4K – $976.5K
NOI $58,589 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 08093, NJ
9,933
Population
4,473
Households
2.2
Avg Household Size
39
Median Age
22%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,483
Density / Sq Mi
$70,257
Median Household Income
$41,051
Median Earnings
$1,230
Median Rent
$192,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - One apartment is vacant, while two remain tenant-occupied, providing a mix of current rental occupancy and leasing flexibility.
Where is this triplex located?
The property is located at 225 DELSEA DRIVE Westville, NJ.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Three residential units; two are tenant‑occupied and one is vacant; 2,490 square feet; built in 1910; Vacant unit includes laminate plank flooring and stainless steel appliances
