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74 E Prospect Street

HOPEWELL, NJ 08525
  • $599,000
  • STATUS: Active Under Contract
  • ON SITE: 78 Days
  • ID#: NJME2005002
Under Contract
UPDATED: 50 min ago
$599,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,068
    SQFT
  • $290
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1935
County:

School Ratings & Info

Description

Lucrative 3-Unit Investment Property with potential for development of additional lot in high-demand Hopewell Borough, just a few blocks from Brick Farm Market, shops and restaurants. Two-family dutch colonial house with separate detached cottage in the back , PLUS an additional lot with a 2 car garage with possible potential to subdivide and possibly build. Main house includes two 2-bedroom apartments, each with its own furnace and hot water heater. 1st floor apt. is sprawling and features 2 bedrooms, an extra office space, large living room with fireplace, dining room, and sunporch. 2nd floor apt. has 2 bedrooms, cedar closets, large kitchen, bathroom with tub, and living room. 2nd bedroom has access to the attic which can be used for extra storage space or could be turned into a study. Both apartments have access to laundry and storage in the basement. Large backyard for play. The back cottage includes 2 beds/1 bath. All units have access to large side additional lot and ample parking.Unit 1: $1600/Month Rent, month to month lease. Unit 2: Projected $1600/Month Rent, month to month lease. Unit 3 Cottage: $950/Month Rent, month to month lease. All tenants pay for their own utilities. Owners pays water, sewer, insurance and taxes.Furnaces replaced 2016. 3 Hot water heaters replaced 2015-2018. Extra lot (72 E. Prospect St) is 50 X 158, potential to subdivide and build would require variance relief from the zoning board of adjustment. The off-street parking currently provided by additional lot would need to be made up on the main house lot.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Revol Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-12-02T16:53:34.853.
www.revolhomes.com/homes/121430340
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74 E Prospect Street HOPEWELL, NJ 08525

  • Price: $599,000
  • Status: Active Under Contract
  • On Site: 78 Days
  • Updated: 50 min ago
  • ID#: NJME2005002
0
Beds
0
Baths
0
½ Baths
0.22
Acres
2,068
SQFT
$290
$/SQFT
1935
Built
Neighborhood:
Hopewell Boro (21105)
County:
Mercer
Area:
Hopewell Boro (21105)
School District:
Hopewell Valley Regional Schools
Property Description
Lucrative 3-Unit Investment Property with potential for development of additional lot in high-demand Hopewell Borough, just a few blocks from Brick Farm Market, shops and restaurants. Two-family dutch colonial house with separate detached cottage in the back , PLUS an additional lot with a 2 car garage with possible potential to subdivide and possibly build. Main house includes two 2-bedroom apartments, each with its own furnace and hot water heater. 1st floor apt. is sprawling and features 2 bedrooms, an extra office space, large living room with fireplace, dining room, and sunporch. 2nd floor apt. has 2 bedrooms, cedar closets, large kitchen, bathroom with tub, and living room. 2nd bedroom has access to the attic which can be used for extra storage space or could be turned into a study. Both apartments have access to laundry and storage in the basement. Large backyard for play. The back cottage includes 2 beds/1 bath. All units have access to large side additional lot and ample parking.Unit 1: $1600/Month Rent, month to month lease. Unit 2: Projected $1600/Month Rent, month to month lease. Unit 3 Cottage: $950/Month Rent, month to month lease. All tenants pay for their own utilities. Owners pays water, sewer, insurance and taxes.Furnaces replaced 2016. 3 Hot water heaters replaced 2015-2018. Extra lot (72 E. Prospect St) is 50 X 158, potential to subdivide and build would require variance relief from the zoning board of adjustment. The off-street parking currently provided by additional lot would need to be made up on the main house lot.
Exterior Features

Architectural Style Other Construction Materials Stick Built Exterior Features SidewalksStreet Lights Garage Spaces 2.00 Garage Type Garage - Front Entry Garage YN Yes Lot Features LevelOpen Other Structures Above GradeBelow Grade Parking Types Detached GarageDrivewayOff Street Pool No Pool Riparian Rights YN No Roof Pitched Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 2068 Basement FullUnfinished Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling None Fireplace YN Yes Fireplaces Total 1 Flooring Wood Heating Hot Water Heating YN Yes Rooms Total 10 Single Room Units 0 Three Bedroom Units 0 Two Bedroom Units 3

Property Features

Acceptable Financing Conventional Accessibility Features 2+ Access Exits Assessment Year 2020 Central Air YN No Cooling Fuel None Cross Street Maple Electric 100 Amp Service Existing Lease Type Month To Month Foundation Details Brick/Mortar Gross Income 49800.00 Heating Fuel Natural Gas Hot Water Electric Municipality Hopewell Boro Navigable Water YN N Net Operating Income 33561.00 New Construction YN No Number Of Units Leased 2 Number Of Units Total 3 Number Of Units Vacant 1 Original MLSNumber 801046258936 Owner Pays SewerWaterTaxes - Real EstateInsurance Ownership Interest Fee Simple Possession Immediate Property Sub Type Triplex Sale Type Standard Sewer Public Sewer Structure Design Type Other Tax Annual Amount 12599.00 Tax Assessment Amount 406800.00 Tax Lot 00025 Total Actual Rent 49800.00 Vacation Rental YN No Water Source Public Window Features Replacement Zoning R75p

Listing courtesy of Bhhs Fox & Roach - Princeton.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Revol Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-12-02T16:53:34.853.
 
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