230-232 Grant St Salem, NJ 08079

This Salem, New Jersey triplex presents a compelling investment opportunity. Located at 230-232 Grant St, this fee-simple property boasts 3,170 square feet on a 7,000 square foot lot and is zoned for multi-family residential use. The property consists of two buildings with three stories, built in 1900, and features vinyl siding and a newer roof (replaced within the last two years). Currently, all three units are rented, providing immediate cash flow. Unit A (232) is a 1-bedroom, 1-bathroom unit with updated flooring, paint, and appliances, currently renting for $1,050 per month. Unit B (232) is also a 1-bedroom, 1-bathroom unit, currently renting for $645 per month, but with potential for rent increase up to $1,000. Unit 230 is a 4-bedroom, 1-bathroom unit with a long-term tenant under a Section 8 agreement, currently renting for $1,650 per month, with a pending rent increase approval. The asking price is $225,000 ($75,000 per unit), with an occupancy date of November 20, 2024. The property is sold "as is," and any necessary Certificates of Occupancy are the buyer's responsibility. Showings require 48-hour notice and should be scheduled through ShowingTime. Do not disturb tenants.