About 361 Prospect Street
Excellent investment opportunity at 361 Prospect St in Perth Amboy! This income-producing 3-family property offers a strong 8.6% CAP RATE with approximately $86,568 in annual net income after taxes and maintenance. The property features three spacious residential units, 1 two bedroom 1 bath, 1 two bedroom 2 bath, and 1 four bedroom 1 bath, providing a desirable unit mix for investors. Additional income potential is provided by three detached garages that can be rented separately. Tenants are responsible for their own utilities, helping to keep operating expenses low. The property also offers a full basement with 8 foot ceilings, a full bathroom/storage space, public water and sewer, and convenient access to local shopping, transportation, schools, major roadways and the Perth Amboy waterfront. An attractive opportunity for investors seeking immediate cash flow with additional long-term upside. Owner will entertain SELLER FINANCING with a minimum 30% down payment, subject to acceptable terms and seller approval. Close on this property and just pick up your rent! A truly turnkey investment.
Features of 361 Prospect Street
| MLS® # | 2704726R |
|---|---|
| Price | $999,999 |
| Square Footage | 2,868 |
| Acres | 0.12 |
| Year Built | 1903 |
| Type | Residential Income |
| Sub-Type | 3 Family |
| Status | Active |
Community Information
| Address | 361 Prospect Street |
|---|---|
| City | Perth Amboy |
| County | Middlesex |
| State | NJ |
| Zip Code | 08861 |
Amenities
| Utilities | Natural Gas Connected |
|---|---|
| Parking | Garage, Detached, 1-2 Car Parking, 3-4 Car Parking |
| # of Garages | 3 |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior Features | Unit 1(2 Bedrooms,1 Bath), Unit 2(2 Bedrooms,2+ Baths), Unit 3(4 Bedrooms,1 Bath) |
|---|---|
| Appliances | Water Heater(Gas), Water Heater |
| Heating | Baseboard, Radiant, Forced Air |
| Cooling | A/C Wall Unit(s),A/C Window Unit(s) |
| Fireplace | No |
| # of Stories | 2 |
| Has Basement | Yes |
| Basement | Full, Bath Full |
Exterior
| Lot Description | Near Shopping, See Remarks |
|---|---|
| Roof | Asphalt |
Additional Information
| Days on Market | 2 |
|---|---|
| Zoning | R-25 |
Listing Details
| Office | RE/MAX SELECT |
|---|