1761 SPRING GARDEN RD Millville, NJ 08332
UPDATED:
11/09/2024 04:41 AM
Key Details
Property Type Mobile Home
Sub Type Mobile Pre 1976
Listing Status Active
Purchase Type For Sale
Square Footage 1,040 sqft
Price per Sqft $134
Subdivision Laurel Lakes
MLS Listing ID NJCB2021308
Style Modular/Pre-Fabricated
Bedrooms 3
Full Baths 1
HOA Y/N N
Abv Grd Liv Area 1,040
Originating Board BRIGHT
Year Built 1965
Annual Tax Amount $1,067
Tax Year 2023
Lot Size 0.276 Acres
Acres 0.28
Lot Dimensions 120.00 x 100.00
Property Description
Presenting an exceptional investment opportunity in the highly sought-after Laurel Lakes community! This portfolio includes 20 well-maintained, tenant-occupied properties, all strategically located within the same thriving neighborhood. With a consistent and reliable tenant base, these homes provide immediate cash flow and long-term stability.
One property within this portfolio is **1761 Spring Garden**, offering a prime example of steady rental income. This charming home has been newly leased, ensuring minimal vacancy risk and dependable revenue. The home itself boasts an **open-concept living area**, 3 spacious bedrooms, and a full bath, all nestled on a beautifully landscaped lot with mature trees and two off-street parking spaces. This unit has a new heater and has been newly renovated.
Key Investment Highlights:
- **Portfolio Price**: $2,000,000 for 20 properties
- **Annual Gross Income**: $240,000
- **12% CAP Rate**: Strong return potential in a stable, in-demand location
- **Tenant Stability**: Long-term, reliable tenants in place across all properties
- **Maintenance & Management**: Well-maintained homes with minimal upkeep required
This portfolio presents a rare opportunity to secure a high-performing asset in a community with ongoing rental demand and future growth potential. With a strong CAP rate and consistent cash flow, this investment is ideal for serious investors seeking to expand their holdings in a thriving market. Don’t miss out on this lucrative opportunity in Laurel Lakes! Portfolio includes MLS# NJCB2021228, NJCB2021246, NJCB2021260, NJCB2021276, NJCB2021262, NJCB2021278, NJCB2021280, NJCB2021286, NJCB2021284, NJCB2021288, NJCB2021290, NJCB2021294, NJCB2021296, NJCB2021298, NJCB2021300, NJCB2021302, NJCB2021304, NJCB2021306, NJCB2021308, and NJCB2021310.
Location
State NJ
County Cumberland
Area Commercial Twp (20602)
Zoning VR1
Rooms
Main Level Bedrooms 3
Interior
Hot Water Electric
Heating Forced Air
Cooling None
Flooring Luxury Vinyl Plank
Furnishings No
Fireplace N
Heat Source Electric
Laundry Main Floor, Hookup
Exterior
Garage Spaces 2.0
Water Access N
Roof Type Flat
Accessibility None
Total Parking Spaces 2
Garage N
Building
Story 1
Sewer On Site Septic
Water Well
Architectural Style Modular/Pre-Fabricated
Level or Stories 1
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Millville Area
Others
Senior Community No
Tax ID 02-00151-00120
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Conventional,Cash
Special Listing Condition Standard
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