255-257 Magnolia Ave, Elizabeth, NJ 07206

PROPERTY DETAILS: -Fully Occupied Currently -Long Term Tenants pay below market rent currently. Renovations needed in units, and roof. Property sold AS-IS, can be delivered vacant. Apartments can be viewed only by Serious Buyers that provide a POF or Pre-Approval. -1st Floor- 3 Beds - 1 Bath: Rents for $800 -2nd Floor - 3 Beds - 1 Bath: Rents for $1200 -Bonus Attic- 1 Bed - 1 Bath: Rents for $550 -Basement Full -1 Bed - 1 Bath(Vacant) Plenty of room for upside improvement. -Lot Size: 50x100-5,000 SqFt. 4 Detached Garages that are currently being rented by the Owner(Owner occupies one) -Total Rent for Garages $350 Monthly Space for Parking a up to 6+Cars EXPENSES -Taxes: Est. $3,903.51 - 2021 -Water: Est. $1200 yearly -Insurance: Est. $1800 Yearly Tenants pay their own utilities. NO OIL TANK ON PREMISES LOCATION DETAILS & OPPORTUNITY The current property is located in an Active Redevelopment area in Elizabeth.A 10+ apartment building w/parking was built on the corner of the property. A 2 Family home was built right next to the current property. There is also a new development to commence a few houses down. The buyer can even Tear down the current property and build 1-4 Family. Land is already R3 Zoned. Great potential ROI!