88-92 Broad Street

Description

Tremendous investment opportunity in Monmouth County consisting of a mixed-use 4 commercial units and 6 residential units with a total rental income of $197K/year. The property is fully occupied with long-term tenants. The subject property includes two parcels of land. The first parcel is a two-story mixed use with 4 commercial and 4 residential tenants which also includes a 14-parking space private parking lot! The second parcel is a detached duplex apt, with 2 residential units, and a separate two car parking spaces. Many repairs and upgrades since we purchased this property! Surveillance system in place to remotely monitor and manage your investment. All utilities have been split, so each tenant pay their own. Except the rear home landlord pays water/sewer. The property address is 88-92 broad street, borough of Keyport. Asking price: $2.195M With an 7% to 8% Cap rate, and a roughly equal distribution of rental income between commercial and residential tenants, this property will not last on the market. The seller is willing to provide financing at an attractive rate (lower than commercial loans), with a 35% downpayment.