88 Broughton Ave,  BLOOMFIELD, NJ 07003

Property Highlights

 

Asking Price $1,800,000

Great investment property! THIS LISTING IS FOR 2(TWO) PROPERTIES: 78-80 Broughton Ave AND 88-90 Broughton Ave (tax map lots 57&58). 78-80 Broughton Ave: Features a 3BDR/1BA second floor apartment and one large commercial space on the 1st floor. Both fully rented. Commercial unit is sale-leaseback. Rents: Unit 1-$3,250/mo, Unit 2-$1,750/mo. SQFT: Unit 1-1,500sqft; Unit 2-750sqft. Gross annual income $60,000. Operating Expenses $23,646. NOI $36,35488-90 Broughton Ave: Broughton Ave: Building features six 1 & 2 BDR apartments and 2 commercial spaces on the 1st floor, all fully rented. Property is well maintained and has potential for long term growth. Rents: Unit 1B $1,500/mo.; Unit 2 $1,349.25/mo.; Unit 3 $1,543.50/mo.; Unit 4 $1,207.50/mo.; Unit 5 $1,500/mo.; Unit 6 $1,254.75/mo.; Comm. Unit 88 $630/mo.; Comm. Unit 90 $1,000/mo. SQFT: Unit 1B - 600; Unit 2 - 600; Unit 3 - 900 ; Unit 4 - 600; Unit 5 - 600; Unit 6 - 450; Comm. Unit 88 - 400; Comm. Unit 90 - 849. Gross annual income $119,820. Operating Expenses $37,460. NOI $82,360. Total taxes combined $28,649. Cap rate 6.6%. Combined Gross Annual Income: $179,820. Operating Expenses: $61,106, Net Operating Income: $118,714

Features

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