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Listed by Michael Walton • RE/MAX ONE Realty
$ 995,000
Est. payment | /mo
8,276 Sqft Lot
$ 995,000
Est. payment | /mo
8,276 Sqft Lot
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NJGL2072446
Year Built 1950
Annual Tax Amount $20,876
Tax Year 2025
Lot Size 8,276 Sqft
Acres 0.19
Property Sub-Type Five Or More Units
Source BRIGHT
Property Description
Turn-Key 8-Unit Investment Opportunity in Westville. Exceptional opportunity to acquire a well-maintained, turn-key 8-unit multifamily property in a prime location in Westville. This attractive asset offers strong in-place cash flow with a current gross annual income of $132,394 and an impressive 8% cap rate, making it an ideal addition to any investor's portfolio. The property has been well cared for and presents beautifully, offering tenants a desirable living environment in a convenient location close to major highways, shopping, dining, and public transportation. With stable occupancy and solid existing income, this is a true plug-and-play investment. In addition to the strong current returns, the property offers significant value-add potential through future rent increases and operational efficiencies, including the opportunity to implement utility bill-backs such as water reimbursement to further enhance NOI and overall asset value. Whether you are a seasoned investor or looking to expand your multifamily portfolio, this is a rare chance to own a high-performing asset in a strong rental market with upside potential still remaining.
Location
State NJ
County Gloucester
Area Westville Boro (20821)
Zoning R
Interior
Hot Water Natural Gas
Cooling None
Heat Source Natural Gas
Exterior
Garage Spaces 10.0
Water Access N
Accessibility None
Total Parking Spaces 10
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Gateway Regional Schools
Others
Tax ID 21-00100-00013 01
Ownership Fee Simple
Special Listing Condition Standard
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Rachel Romano
REALTOR® | License ID: 1111154