Welcome to 225-231 Gibbon Street

Salem, NJ. This meticulously maintained property presents an exceptional investment opportunity with a smart and strategic approach. Comprising four 3-b edroom, 1-bath townhomes, this income-generating property offers a total of 12 bedrooms and 3 bathrooms across a generous 2380 squar feet of living space. Nestled on a total lot size of 5118 square feet, the property boasts newer roofs, adding an invaluable layer of functionality . Each unit is currently occupied, with annual leases in place, ensuring a consistent stream of income for the savvy investor.

Notably, three of the four of the townhomes have been recently updated, offering a blend of character and modern convenience. The property's impressive annual gross rental net of $56, 760 and a remarkable 12.74% cap rate underscore its potential as a lucrative addition to any investment portfolio. Photos of 229 and 231 are prior to the recent current tenants' occupancy. Conveniently located in a convenient area, this property presents a rare opportunity to acquire a turnkey investment with strong rental history and promising returns. Don't miss the chance to own this income-generating gem in Salem, NJ. Schedule your showing today and seize this astute investment opportunity.

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on 225-231 Gibbon St
in Salem, NJ
Presented by Jennifer Rothenberger at
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Property MLS #NJSA2010698 from BrightMLS

+ Reveal additional info including schools and tax history

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+ Bedrooms

Bedrooms: 12

+ Interior Features

Basement

+ Bathrooms

Full Bathrooms: 4

+ Heating and Cooling

Heating Features: Forced Air
Heating: Yes

+ Land Info

Lot Size Acres: 0.1174931
Lot Size Square Feet: 5117

+ Garage and Parking

Parking Features: On Street

+ Multi-Unit Info

Number of Units: 2
Number of 3 Bedroom Units: 4
Bedrooms in Unit-1: 3
Bedrooms in Unit-2: 3
Bedrooms in Unit-3: 3
Bedrooms in Unit-4: 3
Full Bathrooms in Unit-1: 1
Full Bathrooms in Unit-2: 1
Full Bathrooms in Unit-3: 1
Full Bathrooms in Unit-4: 1

+ School Information

School District: SALEM CITY SCHOOLS
+ Display Complete School Details

Salem Middle School is a public elementary and middle school located approximately 0.4 miles away.
Map directions

Salem High School is a public high school located approximately 1.2 miles away.
Map directions

+ Other Property Info

Annual Tax Amount: 6721.0
Source Listing Status: Pending
County: SALEM
Source Property Type: Multi-Family
Area: SALEM
Source Neighborhood: SALEM
Postal Code Plus 4: 1058
Township: SALEM CITY
Property Subtype: Quadruplex
Source System Name: C2C
+ Reveal Property Sale History

Price Changed 2024-06-06
$299000
BrightMLS

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Price Changed 2024-05-28
$304000
BrightMLS

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Price Changed 2024-05-09
$309000
BrightMLS

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Price Changed 2024-05-01
$315000
BrightMLS

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Listed 2024-04-18
$320000
BrightMLS

+ Building and Construction

Total Square Feet Living: 2380
Year Built: 1940
Construction Materials: Vinyl Siding
Property Age: 84
Structure Type: Twin/Semi-Detached
House Style: Traditional
Architectural Style: Twin/Semi-Detached