Updated Residential Income
For Sale
$240,000
111 CHESTNUT STREET Unit 504, Cherry Hill, NJ 08002
Two-bedroom condominium with renovated interiors, private balcony, and shared fitness and pool amenities.
Property Size1,081 SF
Days on Market50
Property Features for 111 CHESTNUT STREET Unit 504
General Information
Standard status
Active
Size
1,081 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,941
Amenities
laundry facility
fitness room
sitting area
in-ground pool
private balcony
Building Details
Building Size
1,081 SF
Year Built
1965
Listing Agency:
Weichert Realtors-Medford
Listed By:
Daxa Parmar · License #2560545
(856) 357-6933
Source:
Patmckennarealtors
Added: Aug 31
Changed: Oct 17
Last Checked: Oct 16 at 6:30PM
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 Weichert Realtors-Medford
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Investment Insights
Based on property information with market context.
This residential income condominium at 504 Chestnut Street in Cherry Hill, New Jersey, was built in 1965 and has been updated for contemporary use. The two-bedroom, two-bath residence includes wood flooring across the primary living areas, a refreshed kitchen with custom tile details, and renovated bathrooms. Sliding glass doors connect the living space to a private balcony, while replacement windows installed in 2023 add to the property’s recent improvements.
Shared building amenities include a laundry facility, fitness room, sitting area, and in-ground pool. The building entry has also been recently updated, creating a refreshed arrival experience for residents and guests.
Shared building amenities include a laundry facility, fitness room, sitting area, and in-ground pool. The building entry has also been recently updated, creating a refreshed arrival experience for residents and guests.
Key Highlights
- Two‑bedroom, two‑bath condominium at 504 Chestnut Street, Unit 504
- Private balcony accessed through sliding glass doors
- Updated kitchen with custom tile work and renovated bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,978
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$219,560
$219.6K
Cap Rate 7%
$156,829
$156.8K
Cap Rate 9%
$121,978
$122.0K
Market Conditions
NOI Build-Up for 1,081 SF
Gross rent
$21.1K $19.56/SF
− Vacancy
−$1.2K −$1.10/SF
EGI
$20.0K $18.46/SF
− OpEx
−$9.0K −$8.31/SF
NOI
$11.0K $10.16/SF
Area
Camden County, NJ
Vacancy
5.60%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$219,560
Cap Rate 7%
$156,829
Cap Rate 9%
$121,978
Alternative Uses
Best Use
Apartment 5plus
$156.8K
$137.2K – $183.0K
NOI $10,978 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$274.1K
$239.8K – $319.8K
NOI $19,187 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,300
Businesses Nearby
Explore this area
Business Placement
Demographics for 08002, NJ
23,920
Population
9,967
Households
2.4
Avg Household Size
41
Median Age
46%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
3,322
Density / Sq Mi
$105,523
Median Household Income
$56,963
Median Earnings
$1,895
Median Rent
$301,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with renovated interiors, private balcony, and shared fitness and pool amenities.
Where is this residential income property located?
The property is located at 111 CHESTNUT STREET Unit 504 Cherry Hill, NJ.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium at 504 Chestnut Street, Unit 504; Private balcony accessed through sliding glass doors; Updated kitchen with custom tile work and renovated bathrooms
