774 S Main St, Phillipsburg Town NJ 08865

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$869,900

774 S Main St, Phillipsburg Town, NJ 08865

bedrooms

bathrooms

square feet

4,575

Acreage

0.23

Open Houses

year built

1900

Full Baths

Half Baths

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$1.05M property on sale! Fantastic investment opportunity in the heart of Phillipsburg, NJ! This legally recognized 5-unit property offers exceptional value with an impressive 8% cap rate. Situated on a spacious lot on S Main St, the property consists of two buildings on one tax record: one with 3 units and the other with 2 units. All units are currently 100% occupied, with some tenants on Section 8, providing steady rental income.One standout feature is the recently renovated unit, which boasts 4 legal bedrooms and a finished attic that can be converted into a 5th bedroom, further enhancing the property's value. Tenants cover their own utilities, including water and sewage, making for a hassle-free investment. Monthly gross income is $7825, annual gross income is $93,900. Annual property taxes are $13,200 and property insurance is $5500. The property benefits from affordable real estate taxes and has recently been appraised at $1.05M as-is. With potential to increase rents to match market rates, this cash-flowing asset is an ideal opportunity for savvy real estate investors. Don?t miss out on this unique chance to own a multifamily gem in a growing area!

Location
Subdivision	-
County	Warren
Elementary School	-
Middle School	-
High School	-

Driving directions

Open houses

None scheduled.

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MLS number: 3921882

Listing agent: George E. Mikhael

Listing broker: Real Broker Llc

Copyright © 2025 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. [source]

Last update: Wednesday, January 1 2025 at 3:46 a.m. EST

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