312 40 St Pennsauken Township, NJ 08110
- Commercial real estate
- 5,000 SF
- 0.25 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 312 40 St
- Year built
- 1920
- Lot size
- 0.25 lot acres
- Property size
- 5,000 SF
- Property type
- Commercial real estate
- APN
- 01309-00007; 01020-00038; 01067-00015
Description
This exceptional investment opportunity presents a 10-unit apartment building located at 312 N 40th St, Pennsauken Township, NJ 08110. The property boasts 5,000 square feet on a 0.25-acre lot and features ten one-bedroom units, currently enjoying 100% occupancy. Built in 1920, the building has undergone significant improvements, including brand new water heaters and recently serviced furnaces. Further enhancing its appeal, solar panels power the common areas, resulting in significant energy savings. Tenants contribute an additional $35 per month towards water expenses, offsetting the landlord's utility costs. Many units showcase complete renovations, featuring updated flooring, granite countertops, and stainless steel appliances. The property includes a private resident parking lot with ten spaces and shared laundry facilities in the basement. The asking price is $1,250,000, representing a price per square foot of $250 and a 7.20% cap rate. The Net Operating Income (NOI) is $90,563. The property's location in Pennsauken Township offers a significant advantage for landlords, as annual city registration is not required, only a DCA. This well-maintained, high-cash-flow property presents a compelling investment opportunity. The property's tax parcel numbers are 01309-00007
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
- Pennsauken Township
- County
- Camden
- State
- New Jersey
- Longitude
- -75.072708565575
- Latitude
- 39.954760664036
