Vacant Triplex on Double
238 South Pavilion Avenue Riverside, NJ 08075
For Sale
$485,000
Pending
Three vacant units in a triplex layout on a double lot, each with separate entries.
Property Size1,960 SF
Days on Market30
Property Features for 238 South Pavilion Avenue
General Information
- Standard status
- Pending
- Size
- 1,960 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1913
Listing Agency:
RE/MAX Of Cherry Hill
(609) 510-1200
Listed By:
Patricia A Fiume · License #8633909
(609) 510-1200
Source:
Compass
Added: Jun 24
Changed: Jul 22
Last Checked: Jul 23 at 10:32AM
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 RE/MAX Of Cherry Hill
Investment Insights
Based on property information with market context.
This charming triplex is situated on a double lot and includes three vacant units. Unit A is located at the front and features laundry on the first floor, a kitchen and living room on the second floor, and an additional bedroom on the third floor. Unit B has a side entry and offers an eat-in kitchen, living room, bedroom, and bathroom. Unit C provides a back/side entry with a galley kitchen, living room, bathroom, and bedroom.
The property is located at 238 South Pavilion Avenue in Riverside, New Jersey, within the Riverside Township public schools area. The listing identifies the location within Burlington County and the MLS area as Riverside Twp (20330).
The property is located at 238 South Pavilion Avenue in Riverside, New Jersey, within the Riverside Township public schools area. The listing identifies the location within Burlington County and the MLS area as Riverside Twp (20330).
Key Highlights
- Triplex on a double lot with 3 vacant units—each unit has a separate entry
- Unit A: laundry on the first floor, kitchen and living room upstairs, plus an additional bedroom on the third floor
- Unit B: side entry with eat‑in kitchen, living room, bedroom, and bathroom
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 | $50.1k | $25.56 |
| − Vacancy | −$3.2k | −$1.65 |
| EGI | $46.9k | $23.91 |
| − OpEx | −$14.1k | −$7.17 |
| NOI | $32.8k | $16.74 |
1,960 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$468.6K
$410.0K – $546.7K
NOI $32,803 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$430.6K
$376.8K – $502.4K
NOI $30,141 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$511.8K
$447.8K – $597.1K
NOI $35,826 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three vacant units in a triplex layout on a double lot, each with separate entries.
Where is this triplex located?
The property is located at 238 South Pavilion Avenue Riverside, NJ.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Triplex on a double lot with 3 vacant units—each unit has a separate entry; Unit A: laundry on the first floor, kitchen and living room upstairs, plus an additional bedroom on the third floor; Unit B: side entry with eat‑in kitchen, living room, bedroom, and bathroom
