Duplex with Two 2-Bed
232 West Union Street Burlington, NJ 08016
232 West Union Street, Burlington, NJ, 08016
$379,000
For Sale
$379,000
Well-maintained duplex offers two separate 2-bedroom, 1-bath units with separate utilities.
Property Size1,928 SF
Price / SF$196.58
Days on Market200
Property Features for 232 West Union Street
General Information
- Standard status
- Active
- Size
- 1,928 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1900
Listing agency
Better Homes and Gardens Real Estate Maturo
(609) 217-7110
Listed by
Stephen Paul Deans · License #2079009
(609) 217-7110
Source
Compass
Added: Jan 3 Updated: Jul 22 at 2:33AM Checked: Jul 22 at 2:33AM
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 Better Homes and Gardens Real Estate Maturo
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two spacious 2-bedroom, 1-bath units. Each unit has separate utilities, and the property has recent upgrades throughout. Unit A is heated by electric heat, while Unit B uses gas heat. The first-floor unit is currently occupied by a long-term tenant.
Located in Burlington City, NJ, the property is described as just minutes from major highways and the NJ Turnpike, providing convenient access to Philadelphia and surrounding areas.
The configuration supports either an investment approach with income from the occupied unit or owner-occupancy with rental income from the other unit.
Located in Burlington City, NJ, the property is described as just minutes from major highways and the NJ Turnpike, providing convenient access to Philadelphia and surrounding areas.
The configuration supports either an investment approach with income from the occupied unit or owner-occupancy with rental income from the other unit.
Key Highlights
- Well‑maintained duplex at 232 W Union St in Burlington City, NJ
- Two units: each offers 2 bedrooms and 1 bath
- Separate utilities for Unit A and Unit B
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.6k | $21.60 |
| − Vacancy | −$2.2k | −$1.13 |
| EGI | $39.5k | $20.47 |
| − OpEx | −$11.8k | −$6.14 |
| NOI | $27.6k | $14.33 |
1,928 SF · lease $21.60/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$394.7K
$345.4K – $460.5K
NOI $27,630 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$360.7K
$315.7K – $420.9K
NOI $25,252 @ 7.0% cap · market cap 6.66%
Theoretical Best
Warehouse
$4.03M
$3.53M – $4.70M
NOI $282,266 @ 7.0% cap · market cap 74.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained duplex offers two separate 2-bedroom, 1-bath units with separate utilities.
Where is this duplex located?
The property is located at 232 West Union Street Burlington, NJ.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Well‑maintained duplex at 232 W Union St in Burlington City, NJ; Two units: each offers 2 bedrooms and 1 bath; Separate utilities for Unit A and Unit B
