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12 HADDON AVE Westmont, NJ 08108
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Key Details
Sold Price $375,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 2,052 sqft
Price per Sqft $182
Subdivision Westmont
MLS Listing ID NJCD2043818
Sold Date 05/09/23
Originating Board BRIGHT
Year Built 1915
Annual Tax Amount $6,842
Tax Year 2022
Lot Size 2,701 Sqft
Acres 0.06
Lot Dimensions 18.00 x 150.00
Property Description
FULLY LEASED!!! Excellent INVESTOR OPPORTUNITY on Haddon Ave. in the popular Westmont District! This 2-Story mixed-use Building has approx. 2052 sq. ft of rentable space, plus a Basement. Both units are LEASED for a combined rental income of $2,705/mo. Both Tenants pay their own Heat and Electric. This Mixed-Use Building consists of 1st Floor Commercial Space and a 2nd Floor Residential 2BR Apartment. There are Front and Rear Entrances for both units. Access to the rear is via an alleyway off of French Ave. There are 2 parking spots in the back being used by the 2nd Floor Apartment. The 1st Floor Commercial space has been leased by the same Tenant since 2017. The Current Rent is $1,275/mo. thru March 2024, then increases to $1,300/mo. thru March 2025. The Tenant pays own Heat and Electric. The large Front Room (approx. 33x17) is being used as the showroom space. The Back Room (17x16) is being used for inventory storage, plus has a Powder Room. The Tenant also has access to the Basement for additional Storage. The 1st Floor is serviced by a newer Mini-Split system for Heat and Air Conditioning. The 2nd Floor 2 Bedroom Apartment is currently leased thru Sept. 30, 2024 @ $1,430/mo. Tenant pays Heat and Electric. A stackable Washer/Dryer and Refrigerator are included for Tenant’s use. The apartment has a large open concept Living Room/Dining Room, Kitchen with Door out to the rear NEW Deck/Stairs, 2 Bedrooms and one Bathroom. The 2nd Floor is serviced by Oil Radiator Heat. The Window A/C units belong to the Tenant. The Landlord pays the Water, Sewer, CCMUA and the PSEG service for the Gas Hot Water Heater and some exterior common lighting. OTHER NOTABLES include: NEW Roof 2022, NEW Deck/Stairs in the back 2022, 1st Floor Mini-Split System about 3 years old, Gas Hot Water Heater about 5 years old, Separate Electric Meters for each Unit, Newer above-ground Oil Tank in the Basement (to replace the previous above ground Tank which has been disposed of). Due to the mixed-use Zoning, Commercial Financing will be needed. Plan accordingly. (Also listed in Multi-Family Category. See MLS #NJCD2043826)
Location
State NJ
County Camden
Area Haddon Twp (20416)
Zoning COMMERCIAL
Interior
Hot Water Natural Gas
Heating Radiator, Zoned, Other
Cooling Ductless/Mini-Split, Window Unit(s)
Heat Source Oil, Electric, Other
Exterior
Garage Spaces 2.0
Water Access N
Accessibility None
Total Parking Spaces 2
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Haddon Township Public Schools
Others
Tax ID 16-00020 16-00019
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Other
Listing Terms Other
Financing Other
Special Listing Condition Standard
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Bought with Yun S Lu • RealtyMark Properties