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427 John St

Plainfield City, NJ 07060
  • $399,000
  • STATUS: Active
  • ON SITE: 55 Days
  • ID#: 3801381
UPDATED: 47 min ago
$399,000
  • 5
    BEDS
  • 0.07
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1931
County:

School Ratings & Info

Description

Attention all Investors. These are semi-attached buildings. 425 John St is semi attached to 427 John St. The first property mentioned is located at the left side and the latter is on the right side. These two family property will be sold "AS IS with Section 8 tenants that are currently month-to-month with no bonded lease. The tenants are accountable on paying for their own utilities such as electricity, gas, and water. The property needs full renovation but has 2 new hot water heaters and 2 new gas furnaces installed by the current landlord, which are less than a year old. The property is way under market value. The after repair value on this property is a minimum of $550,000.00 for each side. If you buy both properties as a package deal, we can give a better deal of $389,000.00 for each property. Section 8 is currently paying its portion for each tenant. The property is pulling in over $2300.00 a month currently which can be proven from the section 8 vouches and deposits. The rents are currently under market value and can be increased bringing the property to pull in close to $4000.00 a month after renovation. You have the liberty to evict the tenants since they don't hold a lease and are not subject to receive one from the current landlord. You may opt for the landlord to evict the tenants, however, the purchase price will increase!

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Garden State MLS logo © 2022 Garden State Multiple Listing Service, LLC. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by the MLS or eXp Realty LLC. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than eXp Realty LLC are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2022-10-05T09:46:51.073.
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427 John St Plainfield City, NJ 07060

  • Price: $399,000
  • Status: Active
  • On Site: 55 Days
  • Updated: 47 min ago
  • ID#: 3801381
5
Beds
2
Baths
0
½ Baths
0.07
Acres
1931
Built
County:
Union
Area:
Plainfield City
Property Description
Attention all Investors. These are semi-attached buildings. 425 John St is semi attached to 427 John St. The first property mentioned is located at the left side and the latter is on the right side. These two family property will be sold "AS IS with Section 8 tenants that are currently month-to-month with no bonded lease. The tenants are accountable on paying for their own utilities such as electricity, gas, and water. The property needs full renovation but has 2 new hot water heaters and 2 new gas furnaces installed by the current landlord, which are less than a year old. The property is way under market value. The after repair value on this property is a minimum of $550,000.00 for each side. If you buy both properties as a package deal, we can give a better deal of $389,000.00 for each property. Section 8 is currently paying its portion for each tenant. The property is pulling in over $2300.00 a month currently which can be proven from the section 8 vouches and deposits. The rents are currently under market value and can be increased bringing the property to pull in close to $4000.00 a month after renovation. You have the liberty to evict the tenants since they don't hold a lease and are not subject to receive one from the current landlord. You may opt for the landlord to evict the tenants, however, the purchase price will increase!
Exterior Features

Approximate Lot Size 19.07X150 IRR Exterior Description Vinyl Siding Exterior Features Fencvnyl Number Of Parking Spaces 0 Parking Driveway Description None Roof Description Composition Shingle

Interior Features

Basement Yes Basement Description Unfinished Cooling None Heating Baseboard - Hotwater Total Number Of Rooms 13 Unit1 Appliances Equipment Range/Oven - GasRefrigeratorSmoke Detector Unit1 Baths 1.0 Unit1 Bedrooms 2 Unit1 Fireplaces 0 Unit1 Handicap Modified No Unit1 Levels 1 Unit1 Room Description BedroomsKitchenLiving/Dining Room Unit1 Rooms 6 Unit1 Security Deposit 0 Unit1 Sq Ft 808 Unit2 Appliances Equipment Range/Oven - GasRefrigeratorSmoke Detector Unit2 Baths 1.0 Unit2 Bedrooms 3 Unit2 Fireplaces 0 Unit2 Levels 1 Unit2 Room Description BedroomsKitchenLiving/Dining Room Unit2 Rooms 7 Unit2 Sq Ft 808

Property Features

Assessment Total 55400 Building Assessment 44000 Easement No Fha Age Restricted No Fuel Type Gas-Natural Gross Operating Income 0 Land Assessment 11400 Net Operating Income 0 Sewer Association Tax Amount 4631 Tax Rate Amount 8.385 Tax Rate Year 2021 Tax Year 2021 Total Operating Expense 0 Unit Style 3-Three Story Unit1 Owner Tenant Pays Tenant Pays ElectricTenant Pays GasTenant Pays HeatTenant Pays Water Unit1 Rent 1444 Unit2 Handicap Modified No Unit2 Owner Tenant Pays Tenant Pays ElectricTenant Pays GasTenant Pays HeatTenant Pays Water Unit2 Rent 1612 Unit2 Security Deposit 0 Utilities Gas-Natural Water Public Water Year Built Description Approximate

Listing information © 2022 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Your Town Realty: [IDXCONTACTINFORMATION].


Garden State MLS logo © 2022 Garden State Multiple Listing Service, LLC. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by the MLS or eXp Realty LLC. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than eXp Realty LLC are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2022-10-05T09:46:51.073.
 
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eXp Realty LLC
966 Shoppes Blvd
North Brunswick NJ, 08902