Multifamily For Sale

$375,000

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418 Elbo Lane

  • – beds
  • – baths
  • 2,400 sqft
  • ~3 acre lot
  • $156 per sqft
  • 1992 build

About 30 yrs old triplex, modular construction, each unit identical 2BR/1BA. All situated on 3 acres of ground. 2 of the units were newly renovated recently. Long term/stable tenants. 100% leased. Annual income of $37,200 with total expenses only $10,000, Net Operating Income is $27,200. New septic system was installed in 2016 and has been well maintained each year. Every unit has its own washer and dryer. Public water. Units all 100% electric. OR consider rebuilding/redevelopment opportunities on prime 3 acres of ground. Lots of off street parking. Bucolic setting, property is nicely set back from Elbo Lane. Pics were taken prior to tenants moved in.

BRIGHT logo Listing courtesy of BRIGHT / Realty Mark Advantage

Last checked: Checking… • Last updated May 5, 2021 •

MLS# NJBL395324 —

Amenities & Taxes

The Building

Year Built:
1992
Year Built Source:
Assessor
New Construction:
No
Construction Materials:
Vinyl Siding
Structure Type:
Detached
Architectural Style:
Ranch/Rambler
Building Units Total:
1
Accessibility Features:
2+ Access Exits
Total SQFT Source:
Assessor
Total Below Grade SQFT Source:
Assessor
Tax Total Finished SQFT:
2400

Interior

Fireplace:
No
Living Area SQFT Source:
Assessor

Room Dimensions

Total SQFT
2400
Living Area SQFT:
2,400 Sqft

Financial & Terms

Sale Type:
Standard
Possession:
Subject to Existing Lease

Location

Directions:
Use GPS
Latitude:
39.93146400
Longitude:
-74.86933800

The Property

Property Type:
Multi-Family
Property Sub Type:
Triplex
Lot Size Acres:
3.00
Lot Size Source:
Assessor
Lot Size Dimensions:
0.00 x 0.00
Lot Dimensions Source:
Assessor
Lot Features:
Rear Yard
Lot SQFT:
130,680 Sqft
Other Structures:
Above Grade, Below Grade
Zoning:
MULTI-FAMILY
Water View:
No
Waterfront:
No
Navigable Water:
No
Water Access:
No
Water Oriented:
No
Lot Size Units:
Square Feet
Riparian Rights:
No
Tidal Water:
No

Listing Agent

Contact info:

Taxes

Tax ID Number:
24-00803 07-00009
Tax Year:
2020
Tax Lot:
00009
Tax Annual Amount:
$7,891
Tax Assessed Value:
$270,900
Year Assessed:
2020
Total Taxes Pymnt Freq:
Annually

The Listing

Buyer's Brokerage Compensation:
2.5%
Buyer Agency Comp Type:
% Of Gross

Heating & Cooling

Cooling Fuel:
Electric
Cooling Type:
Window Unit(s)
Central Air:
No
Heating:
Yes
Heating Type:
Baseboard - Electric
Heating Fuel:
Electric

Utilities

Sewer Septic:
On Site Septic
Hot Water:
Electric
Water Source
Public

Schools

School District Name:
Mount Laurel Township Public Schools
School District Source:
Listing Agent

The Community

Pool:
No Pool
Cap Rate:
7.30

Parking

Type of Parking:
Driveway, Parking Lot
Garage:
No

Extra Units

Other Units:
Unit 1,Unit 2,Unit 3
Vacation Rental:
No
Two Bedroom Units:
3

Schools

Rating Details

Springville Elementary School

  • Public
  • K-5
  • 0.3 mi

Thomas E. Harrington Middle School

  • Public
  • 6-8
  • 1.0 mi

Lenape High School

  • Public
  • 9-12
  • 1.1 mi

Mount Laurel Hartford School

  • Public
  • K-8
  • 1.3 mi

GreatSchools scores are based on a scale from 1 to 10, where 10 is above average.

The school service areas are not definitive and should only be used as guidance. GreatSchools Ratings provided by www.greatschools.org

Flood Risk

No flood information available

We were unable to find flood risk information for this property. When new information is available, we’ll share it here.

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Sale history

Date Event Source Price % Change
4/14/21
Listed / Active BRIGHT $375,000

Finding records…

No additional history available

If new records are added for this property, we’ll share them here.

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