About 127-129 Grafton Avenue
6 Family home with parkling for approx 8 cars. Solid all-brick building fully rented in good condition. Great investment opportunity. Features 5-3 bedroom 1 bath apartments and 1-2-bedroom 1 bath apartment. All have eat-in-kitchens & living room. 2 coin-operated washer/dryers for added income. Roof is approx 10 years old. Landlord provides heat for 3 units, 3 units have separate heat/central ac. Each tenant pays own hot water, cooking gas & electric. 5 apts have leases expiring July 31, 2024. Rent amounts: 1R-$1,163 1L-$1,417 - 2R-$1,560 - 2L-$1,417 - 3R $1,184 (m/m)- 3L-$1,388. Gross Income: $97,588 yearly - Laundry Income: Between $1,200 - Expenses: $7,000 (heat and electricity) Water: $4,700 Insurance: $6,445 yearly Maintenance: $2,040 (garbage and snow removal). Exterminator: $1,200 yearly - Boiler Worry free program - $1440 Year. Total Expense $35K Approx Net $64K.
Features of 127-129 Grafton Avenue
| MLS® # | 24010253 |
|---|---|
| Price | $1,200,000 |
| Type | 5+ Mixed Use |
| Style | 5-25 |
| Status | ACTIVE |
Community Information
| Address | 127-129 Grafton Avenue |
|---|---|
| City | Newark |
| County | ESSEX |
| State | NJ |
| Zip Code | 07104 |
Amenities
| Features | GAS, MUNICIPAL WA |
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Exterior
| Roof | FLAT |
|---|---|
| Construction | 1900-1939 |
Additional Information
| Date Listed | April 8th, 2024 |
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Listing Details
| Agent | Luis Rodriguez |
|---|---|
| Office | Coccia Realty Better Homes & Gardens |