Quadplex with Private
315 State Street Blackwood, NJ 08012
315 State Street, Blackwood, NJ, 08012
$624,900
Pending
For Sale
$624,900
Pending
Four residential units with separate kitchens and private entrances, plus two-car attached and detached garages.
Property Size4,514 SF
Days on Market51
Property Features for 315 State Street
General Information
- Standard status
- Pending
- Size
- 4,514 SF
- Property subtype
- Residential / Fee Simple
Building Details
- Year Built
- 1966
Listing agency
HomeSmart First Advantage Realty
(609) 760-4323
Listed by
Dana Grigore · License #1434642
(609) 760-4323
Source
Compass
Added: Jun 2 Updated: Jul 10 at 1:52PM Checked: Jul 21 at 8:33AM
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 HomeSmart First Advantage Realty
Investment Insights
Based on property information with market context.
This quadplex offers a total of about 4,500 square feet of living space with four separate units. The 3-bedroom, 1.5-bath main home includes a living room with fireplace, newly renovated kitchen, dining room, great room, laundry, and basement. The HVAC was recently updated in the main home. Three additional apartments each have their own kitchen and private entry: Apartment 1 includes kitchen and living room with back door entry; Apartment 2 is above the garage with kitchen and living room and includes a washer/dryer; Apartment 3 is next to a sliding glass door on the main home with kitchen and living room, and it has C/A and electric heat. Apartments 1 and 2 share HVAC with the main home, while utility costs are shared among all units.
The property includes an attached 2-car garage and an additional 2-car detached garage with dedicated electric, along with parking for everyone. A large fenced yard supports outdoor use, and the home is described as convenient to major highways, shopping areas, and eateries, all set on a private lot in a quiet neighborhood.
Designed for flexible living arrangements, this layout can work well for multi-generational households seeking separate spaces while keeping a single property footprint. Buyers also have the option to consider the setup for family-only income opportunities, depending on how they plan to occupy and use the units.
The property includes an attached 2-car garage and an additional 2-car detached garage with dedicated electric, along with parking for everyone. A large fenced yard supports outdoor use, and the home is described as convenient to major highways, shopping areas, and eateries, all set on a private lot in a quiet neighborhood.
Designed for flexible living arrangements, this layout can work well for multi-generational households seeking separate spaces while keeping a single property footprint. Buyers also have the option to consider the setup for family-only income opportunities, depending on how they plan to occupy and use the units.
Key Highlights
- Four residential units total: 3‑bedroom/1.5‑bath main home plus three additional 2BR/1BA units, each with its own kitchen and private entry
- Approx. 4,500 sq ft total living space across all units for flexible extended‑family or blended‑family living
- Main home includes living room with fireplace, newly renovated kitchen, dining room, great room, laundry, and basement
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 | $77.5k | $17.16 |
| − Vacancy | −$4.1k | −$0.91 |
| EGI | $73.3k | $16.25 |
| − OpEx | −$22.0k | −$4.87 |
| NOI | $51.3k | $11.37 |
4,514 SF · lease $17.16/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$733.4K
$641.7K – $855.6K
NOI $51,338 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$654.9K
$573.0K – $764.0K
NOI $45,842 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,118 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Four residential units with separate kitchens and private entrances, plus two-car attached and detached garages.
Where is this quadplex located?
The property is located at 315 State Street Blackwood, NJ.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Four residential units total: 3‑bedroom/1.5‑bath main home plus three additional 2BR/1BA units, each with its own kitchen and private entry; Approx. 4,500 sq ft total living space across all units for flexible extended‑family or blended‑family living; Main home includes living room with fireplace, newly renovated kitchen, dining room, great room, laundry, and basement
