Listed by Ketty Zuberman RE/MAX Properties Select
Bought with Gang Wu Coldwell Banker, Fort Lee

$935,000

Est. payment -/mo

$959,000

2.5%

Est.Price: ?

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534 Kearny AVE Kearny, NJ 07032

SOLD DATE : 07/26/2023

Key Details

Sold Price $935,000

Property Type Multi-Family

Sub Type Res/Com Mixed

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 22033650

Sold Date 07/26/23

Style Res/Com Mixed

Property Sub-Type Res/Com Mixed

Property Description

HERE IS A GREAT OPPORTUNITY FOR INVESTORS, AT THIS MIXED USE PROPERTY IN A GREAT LOCATION!!! FEATURING 2 STORES AND 3 APARTMENTS, PARKING FOR 8+ CARS. RENTALS: STORE #1 $1,750 PER MONTH, STORE #2 $1,433 PER MONTH. STORES HAVE A 3% ANNUAL INCREASE. APARTMENT RENTALS: 4 BR APT. $1,710 PER MONTH, 2 BR APT. $1,337.50 PER MONTH, STUDIO APT. $1,000 PER MONTH. GROSS INCOME IS: $88,000. 7% CAP. STORES PAY THEIR OWN UTILITIES EXCEPT FOR THE COMMON AREAS. APARTMENTS PAY FOR GAS AND ELECTRIC.