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Wholesale Investment Property – ATTENTION – This deal has been structured as a Subject To Creative Purchase. This is a pre-foreclosure property. The end buyer for this property will pay the existing mortgage arrears and liens and then take over the existing payments. Those costs are INCLUDED with the wholesale price and the deal structure makes for a low entry cost for this property.
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All Properties are normally sold within 14 days from the date listed. Please check the status of the unit with us before beginning research on properties older than 14 days.
This property information is Strictly for Real Estate Acquisitions Co. Investors and associates only.
This property is available for purchase only with Cash, Hard Money, or Private Money.
412 Market St Gloucester, NJ 08030
Wholesale Price: $72,000
Rehab Cost: $65,000
After Repair Value: $230,000
Yearly Net Cash Flow: $14,664
Cash On Cash Return: 10.70%
Cap Rate: 6.37%
The above numbers are with rent stabilization. Currently owner occupied.
Building Type: Multi Family
Square footage: 2598
Real Estate Tax: $5,855
Owner Occupied: Yes
Construction Details: Duplex currently used as a single family ( 4/1.5). Can convert back into its original configuration downstairs 1/1, Upstairs 4/1. Kitchen in each floor. Will need to put a shower downstairs and a kitchen upstiars since the current sellers removed them. One water heater is about 9 years, other needs replacement. 2 seperate electric panels and water meters. Roof has leaked in the past year. With your imagination and some Rehab convert this back into a cash flowing machine.
Facade and Exterior: Vinyl
Roof: architectural shingles
Plumbing: Cast Iron & PVC
Zoning: Residential Medium- duplex
Recent Comparables from the MLS used to determine ARV