Fully Renovated 3-Family Home for Sale | 280 MacArthur Ave, Garfield, NJ | $1M Investment Opportunity
280 MacArthur Ave, Garfield, NJ
Click here to Get DirectionsFully Renovated 3-Family Home at 280 MacArthur Ave, Garfield, NJ
Investment Highlights:
Comprehensive Renovation: This 3-family property has been meticulously renovated, ensuring modern amenities and aesthetics throughout.
Tenant-Paid Utilities: All units have separate utilities, with tenants responsible for their own expenses, enhancing your net income.
Updated Mechanicals: The property boasts brand-new mechanical systems, reducing maintenance concerns and increasing efficiency.
Unit Details:
First Floor: Currently rented at $2,750 per month on a month-to-month basis.
Second Floor: Vacant 3-bedroom unit, available for occupancy at an asking rent of $2,800 per month.
Third Floor: Occupied 3-bedroom unit (potential for a 4th bedroom), leased at $2,850 per month until November 2025.
Financial Overview:
Total Monthly Income: $5,600 (with potential to increase to $8,400 upon leasing the vacant unit).
Annual Gross Income: $100,800 (projected with full occupancy).
Property Features:
Spacious Layout: Each unit offers generous living spaces, designed for comfort and functionality.
Modern Kitchens: Equipped with contemporary appliances and finishes, appealing to discerning tenants.
Ample Parking: A large driveway provides sufficient parking for all units, a valuable asset in the area.
Outdoor Space: A sizable backyard offers recreational opportunities for tenants, enhancing the property's appeal.
Location Benefits:
Convenient Access: Situated on a quiet street, yet close to public transportation, schools, shopping centers, and places of worship.
Community Amenities: Garfield offers a vibrant community with parks, dining, and entertainment options, attracting a diverse tenant base.
Investment Potential:
This property presents a compelling opportunity for investors seeking a turnkey asset with strong cash flow and minimal maintenance. The recent renovations and updated systems position it as a low-risk investment with potential for appreciation.
For more information or to schedule a viewing, please contact [Your Name] at [Your Contact Information].
Note: Financial figures are projections based on current and potential rents. Actual performance may vary.
Office: (201) 870-4538