UPDATED:
11/09/2024 04:32 AM
Key Details
Property Type Mobile Home
Sub Type Mobile Pre 1976
Listing Status Active
Purchase Type For Sale
Square Footage 552 sqft
Price per Sqft $153
Subdivision Laurel Lakes
MLS Listing ID NJCB2021262
Style Modular/Pre-Fabricated
Bedrooms 3
Full Baths 1
HOA Y/N N
Abv Grd Liv Area 552
Originating Board BRIGHT
Year Built 1970
Annual Tax Amount $813
Tax Year 2023
Lot Dimensions 121.00 x 0.00
Property Description
Presenting an exceptional investment opportunity in the highly sought-after Laurel Lakes community! This portfolio includes 20 well-maintained, tenant-occupied properties, all strategically located within the same thriving neighborhood. With a consistent and reliable tenant base, these homes provide immediate cash flow and long-term stability.
One property within this portfolio is **5205 Doris Dr**, offering a prime example of steady rental income. This charming home has been leased by the same tenant for several years, ensuring minimal vacancy risk and dependable revenue. The home itself boasts an **open-concept living area**, 3 bedrooms, and a full bath, all nestled on a beautifully landscaped lot with mature trees and two to three off-street parking spaces.
Key Investment Highlights:
- **Portfolio Price**: $2,000,000 for 20 properties
- **Annual Gross Income**: $240,000
- **12% CAP Rate**: Strong return potential in a stable, in-demand location
- **Tenant Stability**: Long-term, reliable tenants in place across all properties
- **Maintenance & Management**: Well-maintained homes with minimal upkeep required
This portfolio presents a rare opportunity to secure a high-performing asset in a community with ongoing rental demand and future growth potential. With a strong CAP rate and consistent cash flow, this investment is ideal for serious investors seeking to expand their holdings in a thriving market. Don’t miss out on this lucrative opportunity in Laurel Lakes! Portfolio includes MLS# NJCB2021228, NJCB2021246, NJCB2021260, NJCB2021276, NJCB2021262, NJCB2021278, NJCB2021280, NJCB2021286, NJCB2021284, NJCB2021288, NJCB2021290, NJCB2021294, NJCB2021296, NJCB2021298, NJCB2021300, NJCB2021302, NJCB2021304, NJCB2021306, NJCB2021308, and NJCB2021310.
Location
State NJ
County Cumberland
Area Commercial Twp (20602)
Zoning VR2
Rooms
Main Level Bedrooms 3
Interior
Hot Water Electric
Heating Forced Air
Cooling None
Fireplace N
Heat Source Electric
Exterior
Garage Spaces 3.0
Water Access N
Roof Type Flat
Accessibility None
Total Parking Spaces 3
Garage N
Building
Story 1
Sewer Private Septic Tank
Water Well
Architectural Style Modular/Pre-Fabricated
Level or Stories 1
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Millville Area
Others
Senior Community No
Tax ID 02-00149-10319
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Kelly Martinez
REALTOR® | OWNER | License ID: 0225209978
REALTOR® | OWNER License ID: 0225209978