503 Delair AvePennsauken Township, NJ 08110

For Sale
$1,500,000

High-Yield Multifamily Investment in NJ

Overview

Added:
Dec 11, 2024
Days on market:
93
This 13-unit apartment building, located at 503 Delair Ave in Pennsauken Township, NJ 08110, presents a compelling investment opportunity. Built in 1920, this property boasts 3,000 square feet on a 0.17-acre lot. The building comprises 12 one-bedroom units and one two-bedroom unit, all currently tenant-occupied, generating a strong NOI of $109,004 and a 7.30% cap rate. The asking price is $1,500,000. A recently renovated basement provides ample storage. Its convenient location near major highways offers easy access to Philadelphia. The property benefits from a completed DCA, eliminating the need for annual city registration. This multifamily investment offers significant income potential. The seller will provide the DCA with the sale. Serious inquiries only; proof of funds required for scheduling. Group showings only.

Highlights

  • $1,500,000 asking price for a 13-unit apartment building.
  • 7.30% cap rate with a $109,004 NOI.
  • 3,000 square feet on a 0.17-acre lot in Pennsauken Township, NJ.
  • 1920 construction with 1 building, 12 one-bedroom units and 1 two-bedroom unit.
  • Located near the Betsy Ross Bridge and major highways, offering easy access to Philadelphia.

Property Details for 503 Delair Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
3,000 SF
Year Built
1920
Buildings
1
Lot Size (sq. ft)
7,405 SF
Units
13

Location Insight

City
Pennsauken Township
County
Camden
State
New Jersey
Latitude
39.978888904864
Longitude
-75.05448256644
503 Delair Ave, Pennsauken Township, New Jersey

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503 Delair Ave
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