*Investor & Developer Alert** Rent is 1400/per month per unit (under market value -you can freshen up these units and charge more!) This is a 12-year young Quad project split into two buildings. Each Building features two mirror image 2-story town-homes. TENANTS PAY ALL UTILITIES. Owner's basic expenses are taxes, insurance and grounds maintenance. Great investment package for novice or expert Real Estate Investor. Located only a quick 2 miles & 4 minute drive to Rowan University/Rowan Blvd; Rts 47, 322 & 55 and the newer Glassboro Town Square development. Close to all major shopping centers. Couple it with the seller's property at 123 Earl to provide a 9 (potentially 10) unit private development on Earl Ave. These units boast 3 bedrooms, a large living room, dining room, L-shaped kitchen, 1st floor 1/2 bath and 1st fl laundry closet. Upstairs you'll find 3 bedrooms and a generously-sized full bath. Units have central a/c, gas heat, patio doors from dining room to rear yard and paved off-street parking. Tenants pay all utilities. The lot is 1.13 acres, and is NOT FULLY DEVELOPED! Owner says THERE IS ROOM TO ADD ANOTHER DUPLEX or TWO AT THE REAR OF THE PROPERTY - apply for a variance & provide site plan to township. WITH COVID-19 ADDITIONAL STUDENT HOUSING IS NEEDED. CONVERT THESE TO STUDENT HOUSING & Build more! Glassboro is experiencing a renaissance with new development everywhere! Retail outlets, new nearby $356-million dollar Inspira Hospital completed 12/19 - adjacent to Rowan's West Campus and Tech Campus; a new multi-million dollar True North church (opened 3/20) recently built Tech & Medical Campuses at Rowan, New Fine Dining & Casual Eateries and MicroBreweries. Do NOT PULL INTO DRIVEWAYS ONTO THE PROPERTY. DO NOT DISTURB TENANTS! (Buyers must perform their own due diligence with township regarding obtaining variances for additional units). 3 OF 4 leases have rolled over to m-to-m. The other unit is Section-8 and just renewed in March. Leases APPEAR TO BE UNDER market value for newer 3 bed 1.5 bath UNITS in Glassboro. AS-IS Sale. Buyer or buyer's rep to order, pay for all inspections, certifications and other township or lender requirements for closing. All units are set up just as shown in unit 3 photos within the listing.
|--||New Value: $600,000|
|3/14/2020 2:01:00 PM||New Value: $600,000|