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312 E Broadway

Salem, NJ 08079

– beds
– baths
4,362 sqft
5,602 sqft lot
$46 per sqft
1940 build

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MAJOR PRICE REDUCTION IN SALEM, NJ! *** Hey there, are you ready to milk some profits in Salem County? I've got just the thing for you - a cash-cow opportunity that you won't want to miss! Are you on the lookout for a prime investment opportunity in Salem County? Well, what are you waiting for? Grab your overalls and let's get to work! Look no further than this exceptional 6-unit property, which promises to be your next cash cow! This property features six residential apartments, with three units currently rented on a month-to-month basis, and the other three recently vacated and ready for renovation to stabilize the rent in the building. Each unit boasts separate electric meters and utilities with electric baseboard heating. The property comprises of SIX 1-bedroom units, offering versatility and variety. You can easily tour the vacant Units 3, 4, and 6 with your Realtor. The occupied Units: Unit-1 ($650/mo), Unit-2 ($600/mo), and Unit-5 ($745/mo) - are long-term month-to-month tenants and current on rent, but may not grant access. Two of the vacant units are ready for a clean slate, while renovations have already commenced in the third vacant unit. Take advantage of this golden opportunity, bring your vision to life, stabilize the rents, and embark on your next BRRR journey. Contact us for more details! <<<Broker and Seller assume no responsibility and make no guarantees, warranties or representations, both expressed or implied, as to the availability or accuracy of the property information, room counts, dimensions or other information depicted or described herein. Buyer is responsible for completing their own due diligence and verifying all information necessary.>>>

Listing courtesy of BRIGHT / EXP Realty, LLC

Last checked: Checking… • Last updated Mar 19, 2024 •

MLS# NJSA2007544 —

The Building

Year Built:

1940
Year Built Source:

Assessor
New Construction:

No
Construction Materials:

Frame
Structure Type:

Other
Architectural Style:

Other
Building Units Total:

1
Accessibility Features:

None
Basement:

Yes
Basement Type:

Full, Unfinished
Building Winterized:

No
Total SqFt Source:

Estimated
Total Below Grade SqFt Source:

Assessor

Interior

Room Count:

23
Fireplace:

No
Living Area SqFt Source:

Estimated

Room Dimensions

Total SqFt:

4362
Living Area SqFt:

4,362 Sqft

Financial & Terms

Sale Type:

Standard
Acceptable Financing:

Cash, Private
Buyer Financing:

Conventional
Possession:

Immediate

Location

Directions:

Corner of E Broadway and Johnson St.
Cross Street:

Johnson Street
Latitude:

39.56789000
Longitude:

-75.46263000

The Property

Property Type:

Multi-Family
Property Subtype:

Other
Lot Size Units:

Square Feet
Lot Size Acres:

0.13
Lot Size Source:

Assessor
Lot Size Dimensions:

80.00 x 70.00
Lot Dimensions Source:

Assessor
Lot SqFt:

5,602 Sqft
Zoning:

R-2
Outdoor Living Structures:

Porch(es)
Other Structures:

Above Grade, Below Grade
Water View:

No
Waterfront:

No
Water Oriented:

No
Water Access:

No
Navigable Water:

No
Tidal Water:

No
Ground Rent Exists:

No
Riparian Rights:

No

Listing Agent

Contact info:

Taxes

Tax ID Number:

13-00038-00007
Tax Year:

2022
Tax Lot:

00007
Tax Annual Amount:

$13,410
Tax Assessed Value:

$178,400
Year Assessed:

2022
Total Taxes Payment Frequency:

Annually

The Listing

Close Sale Type:

Standard Sale
Buyer's Brokerage Compensation:

3%
Buyer Agency Comp Type:

% Of Gross
Buyer Agency Comp Selection:

Percent

Heating & Cooling

Cooling Type:

Window Unit(s)
Central Air:

No
Cooling Fuel:

Electric
Heating:

Yes
Heating Type:

Baseboard - Electric
Heating Fuel:

Electric

Utilities

Sewer/Septic:

Public Sewer
Hot Water:

Electric
Water Source:

Public

Schools

School District Name:

Salem City Schools
School District Source:

Listing Agent

The Community

Pool:

No Pool
Spa:

No

Parking

Total Garage and Parking Spaces:

6
Garage:

No
Type of Parking:

Driveway
Driveway - # of Spaces:

6

Extra Units

# of Units:

3
Vacation Rental:

No
One Bedroom Units:

6

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
3/19/24 Mar 19, 2024	Sold	BRIGHT	$205,000	-25.5%
3/9/24 Mar 9, 2024	Pending	BRIGHT	$275,000
12/26/23 Dec 26, 2023	Relisted	BRIGHT	$275,000	-16.7%

Multifamily Sold on 3/19/2024

$205,000

Listing provided by broker:

Carlo Drogo Sr.

EXP Realty, LLC

nj.broker@exprealty.net

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Listing Courtesy of: BRIGHT and EXP Realty, LLC.

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. BRIGHT MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.
The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.

312 E Broadway

Salem, NJ 08079