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    1802 Fernwood Road

    Belmar, NJ 07719
    • $675,000
    • STATUS: Active
    • ON SITE: 22 days
    • MLS #: 22035716
    $675,000
    • 10
      BEDS
    • 0.12
      ACRES
    • 5
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    ** 4 UNIT MULTIFAMILY PROPERTY AT 7% CAP RATE and VALUE-ADD UPSIDE** Property includes three buildings and has a strong rental history with an in-place rent roll of $74,400 and annual expenses of $23,600. Upside potential in unit renovation to increase rental income or by converting annual tenants to summer/winter leases. Property being sold ''As Is''.Tenants pay their own gas, electric, and heat. Currently 3 units occupied on month-month basis. Open unit can be delivered vacant or rented based on buyer's preference. Close to shopping and beach. 2 off street parking spots.

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    © 2020 Monmouth-Ocean MLS. IDX information 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. Data is deemed reliable but is not guaranteed accurate by the MLS or Caitlyn Mulligan with RE/MAX Revolution. Data last updated 2020-10-26T00:19:30.193.
    www.mulligansellsmore.com/homes/110663666
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    1802 Fernwood Road Belmar, NJ 07719

    • Price: $675,000
    • Status: Active
    • MLS #: 22035716
    10
    Beds
    5
    Baths
    0
    ½ Baths
    0.12
    Acres
    1930
    Built
    Neighborhood:
    None
    County:
    Monmouth
    Area:
    Lake Como (LAK)
    Elementary School:
    Belmar
    Middle School:
    Belmar
    High School:
    Manasquan
    Property Description
    ** 4 UNIT MULTIFAMILY PROPERTY AT 7% CAP RATE and VALUE-ADD UPSIDE** Property includes three buildings and has a strong rental history with an in-place rent roll of $74,400 and annual expenses of $23,600. Upside potential in unit renovation to increase rental income or by converting annual tenants to summer/winter leases. Property being sold ''As Is''.Tenants pay their own gas, electric, and heat. Currently 3 units occupied on month-month basis. Open unit can be delivered vacant or rented based on buyer's preference. Close to shopping and beach. 2 off street parking spots.
    Exterior Features

    Garage No Lot Dimensions 70 X 74 Parking Spaces 2.00 Pool YN No Water View No Waterfront No

    Interior Features

    Basement Partial Basement YN Yes Beds Unit1 2 Beds Unit2 4 Beds Unit3 2 Beds Unit4 2 Fireplace No Floors Ceramic TileLaminateLinoleum/Vinyl Full Baths Unit1 1 Full Baths Unit2 2 Full Baths Unit3 1 Full Baths Unit4 1 Heat AC Single Zone Heat Heat Fuel Natural Gas Water Heater ElectricNatural Gas

    Property Features

    Assessment Land 293600.00 Assessment Status To Be Assessed Assessment Total 537300.00 Deed Restrictions No Gross Income 74400.00 Handicap Access No Improvements Assessment 243700.00 Insurance Expense 3500.00 Landlord Pays SewerWater Multifamily Type Four Family New Construction No Other Expense 5500.00 Owner Individual(s) Real Estate Tax Expense 7814.00 Repairs Maintenance Expense 2800.00 Tax Year 2019 Taxes 7814.00 Tenant Pays ElectricityGasHeat Water Sewer Public SewerPublic Water Water Sewer Expense 4000.00

    Listing information © 2020 Monmouth-Ocean MLS. Listing provided courtesy of Alan Garber of Terrie O'connor Upper Saddle River.


    © 2020 Monmouth-Ocean MLS. IDX information 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. Data is deemed reliable but is not guaranteed accurate by the MLS or Caitlyn Mulligan with RE/MAX Revolution. Data last updated 2020-10-26T00:19:30.193.
     
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    Caitlyn Mulligan with RE/MAX Revolution
    2101 route 34, Suite B
    Wall NJ, 07719