427 Central Ave Phillipsburg, NJ 08865
- Apartment buildings
- 3,122 SF
Current Use by Public Records
- Apartment buildings
Property Details for 427 Central Ave
- Year built
- 1880
- Property size
- 3,122 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a beautifully remodeled five-unit multi-family apartment building located in desirable Alpha Boro, Phillipsburg, New Jersey. The property boasts a total of 3,122 square feet and features a mix of apartment sizes: three one-bedroom units, one two-bedroom unit, and one three-bedroom unit. Undergoing a complete 2024 renovation, this turnkey property is ready for immediate occupancy. Significant upgrades include a brand new roof, new water heaters, new carpeting and luxury vinyl plank flooring (LVP) throughout, updated bathrooms, fresh paint, and contemporary kitchens featuring new cabinets, countertops, and stainless-steel appliances. The exterior has been revitalized with new vinyl siding, shutters, and a freshly painted block facade. Ample off-street parking is provided by a newly installed paved patio and a stone parking lot. Each unit enjoys its own private entrance, enhancing resident privacy. Separate electric meters simplify management and utility billing. A basement offers additional storage space, with potential for the addition of coin-operated laundry facilities to further increase revenue. This property offers a hassle-free entry into the thriving rental market, presenting a strong return on investment for the discerning buyer. The combination of modern updates, desirable location, and ample parking makes this a truly remarkable investment opportunity.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Phillipsburg
- County
- Warren
- State
- New Jersey
- Longitude
- -75.155
- Latitude
- 40.6633
