30 N Main St, Phillipsburg Town, NJ 08865

Property Description

Rare opportunity to acquire two adjoining parcels offered together in prime Riverfront Redevelopment area of Phillipsburg, NJ, featuring scenic views of the Delaware River & Easton skyline. This income-producing investment offers a compelling 9.75% pro forma cap rate and projected annual NOI of $120,000, with a projected expense ratio below 20%.The portfolio includes eight units:two 1-bedroom apartments, five 2-bedroom apartments, and one commercial unit w/ patio&deck, plus a garage-sized storage space that has never been leased. 3 units are occupied by long-term tenants, 3 of the 4 brand-new units are available for lease, and one recently vacated unit is undergoing renovations in preparation for relisting providing additional income potential. Recently renovated throughout, the properties offer a turnkey investment opportunity with no major capital improvements anticipated. Separate utilities allow tenants to pay their own gas and electric, helping minimize owner expenses and maximize operating efficiency. Enjoy a highly desirable location just a 10-minute walk from downtown Easton, PA, with access to its restaurants, shops, entertainment, and vibrant riverfront atmosphere. Combining attractive projected returns, diversified rental income, newly renovated units, and picturesque waterfront surroundings, this offering is an outstanding opportunity for investors seeking immediate income and future upside. Both 30 N. Main Street and 26 N. Main Street must be purchased together.