288 SOUTH AVE Bridgeton, NJ 08302
1,920 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 1,920 sqft
Price per Sqft $122
MLS Listing ID NJCB2032798
Style Colonial
Abv Grd Liv Area 1,920
Year Built 1900
Annual Tax Amount $4,307
Tax Year 2025
Lot Size 10,799 Sqft
Acres 0.25
Property Sub-Type Detached
Source BRIGHT
Property Description
Unit A is currently occupied and generating $15,900 in annual rental income, while Unit B is VACANT and ready for its next use. That combination creates an attractive opportunity for a buyer looking to enter the multifamily market by occupying one unit while collecting rental income from the other—potentially helping offset monthly housing expenses while beginning to build a real estate portfolio.
For an experienced investor, the vacant unit provides the opportunity to immediately prepare and lease the space at current market terms without waiting for an existing lease to expire. Based on estimated market rents, total gross rental income could potentially reach approximately $33,600 annually when both units are leased at projected market rates. At the offered price, projected performance could result in a PRO FORMA CAP RATE EXCEEDING 11%, subject to actual rents, expenses, occupancy, management, maintenance, and other operating costs. Buyers should perform their own due diligence regarding projected rents and investment performance.
The property is also set up with separate electric utilities, including separate electric hot water heaters, helping simplify utility responsibility between the two units.
Outside, the EXTRA-LARGE LOT adds another dimension to the property, with plenty of off-street parking, a storage shed, and substantial additional outdoor space.
Whether you're looking for an opportunity to occupy one unit while generating income from the other or seeking another multifamily property for an established portfolio, 288 South Avenue offers a compelling combination of CURRENT INCOME, VACANCY FLEXIBILITY, AND FUTURE UPSIDE.
Schedule your showing and explore the possibilities!
Location
State NJ
County Cumberland
Area Bridgeton City (20601)
Zoning MULTI
Interior
Hot Water Electric
Heating Forced Air
Cooling None
Heat Source Natural Gas
Exterior
Garage Spaces 15.0
Water Access N
Accessibility None
Total Parking Spaces 15
Garage N
Private Pool No
Building
Foundation Other
Above Ground Finished SqFt 1920
Sewer Public Sewer
Water Public
Architectural Style Colonial
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Bridgeton Public Schools
Others
Tax ID 01-00156-00014
Ownership Fee Simple
SqFt Source 1920
Acceptable Financing FHA, VA, Conventional, Cash
Listing Terms FHA, VA, Conventional, Cash
Financing FHA,VA,Conventional,Cash
Special Listing Condition Standard
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