Thinking of becoming a landlord and seeking an investment with a proven income stream? Look no further than the duplexes at 181 & 183 Matilda Avenue in Somerset. Both buildings are being offered together but are individually deeded with their own lot & block and associated property taxes. (Lot description and tax information were combined for this listing, call listing agent if clarification is needed). Each duplex has a proven track record of consistent, stable, and long-term occupancy and a solid rental income. All apartments are currently occupied. Even with below market rate rents, the properties earn a Gross Operating Income of approximately $65k/yr. There is significant potential for increased GOI given comparable units and asking rents in the area. A smart opportunity for the first-time or even experienced landlord!
** GREAT INVESTMENT OPPORTUNITY ** Township APPROVED the Certificate of non-conforming use on 3/19/15. There are two separate buildings on one lot. Building 121 is a legal 2-family dwelling and building 123 is a legal 1 family dwelling -- for a combined total 3 units ** Two of the 3 units have had very long term tenants, providing steady rental income for decades! ** All 3 units are currently rented, however the opportunity exists for an owner to occupy part of the property ** Conveniently located on the corner of Kossuth & Hamilton Streets in the heart of the Hamilton Street Business District. ** Close to Rutgers University and downtown New Brunswick as well as the Northeast Corridor NJ Transit line and major highways like Routes 287, 18 and the NJ Tpk.
Great investment property, near Rutgers University, low taxes. Live in one unit, rent the other; New furnace and HWH; Overall good condition, Tenant on 1st floor will stay. First floor painted, second floor is being renovated, kitchen, bathroom, floors, painting.
Age: Over 50 Years Old
Appliances: Dryer, Range / Oven, Refrigerator, Washer