3022 Haddonfield Rd Pennsauken Township, NJ 08110

This exceptional 8-unit apartment building, located at 3022 Haddonfield Rd in Pennsauken Township, NJ 08110, presents a compelling investment opportunity. The property boasts 8,304 square feet on a 0.3-acre lot and includes 12 parking spaces. Built in 1987, the building comprises six 2-bedroom/1-bathroom units and one 1-bedroom/1-bathroom unit, all currently rented, generating a substantial monthly income of $9,735. Two additional units function as spacious garages/storage units, each equipped with rolling garage doors, offering further income potential. Each apartment features central air conditioning, individual gas and water meters, and a private washer/dryer, enhancing tenant comfort and convenience. The property's strategic location near major roads and bridges provides easy access to both South Jersey and Philadelphia, attracting a strong pool of renters. Its proximity to the Betsy Ross Bridge (less than three miles) and the border of Cherry Hill offers the advantages of a desirable location without the higher taxes. The current Net Operating Income (NOI) stands at $81,849, with a projected NOI of $100,260, reflecting a 7.10% cap rate and a pro-forma cap rate of 8.70%. The asking price for this high-demand, low-vacancy property is $1,150,000. This multifamily investment offers significant potential for appreciation and strong cash flow, making it an ideal addition to any portfolio.