BEDS0
BATHS6
SQUARE FEET9,999
MLS#3998270
STATUS
PROPERTY TYPEMulti Unit - Multiple
Property Description
Highest and best Wednesday at 9am Welcome to an exceptional income-producing opportunity at 104 Ridgedale Avenue in Cedar Knolls, NJ. This versatile 4-unit commercial property is designed for the discerning investor seeking reliable returns. Featuring a generous lot size of 12,066 square feet, the property stands as a testament to quality and potential.The structure houses a mix of residential and commercial tenants ensuring a steady revenue stream, currently collecting just over $9,600 monthly and over 115,000 annually. On the second floor, a long-term tenant occupies a spacious 2-bedroom apartment for 1800/mo complemented by another 2-bedroom apartment recently renovated in 2023 at 2300 a month. This building has a large 15+ car parking lot, a newer roof, central air conditioning, separate utilities, and a prime location, enhancing tenant comfort and property value. The landlord pays a portion of heat and electric costs for the common areas.The ground floor boosts this property's commercial appeal with a rented hair salon (1800/mo) and a dentist office (3750/mo) each secured with a 5-year lease This unique blend of residential and commercial space, along with its modern amenities, presents an exceptional investment in a strategic location. Explore the possibilities and secure a property that promises both stability and growth.
Property Features
Property Type: Multi Unit - Multiple
Cooling: 2 Units, Wall A/C Unit(s)
Fuel Type: Gas-Natural
Heating: 2 Units, Baseboard - Electric, See Remarks
Lot Size: 0.28 Acres
Roof Type: Asphalt Shingle
Stories: 2.0
Taxes: $14,588
Feature Descriptions
Days on Site: 106
Exterior: Brick/Block, Vinyl Siding
Flooring: Carpeting, Laminate, Vinyl-Linoleum
Lease Info: 5 Or More Years
Lease Type: Net
Location: Business District, Corner
Lot: Corner
Lot Dimensions: 0.28 acre(s)
Max Door height: 7
Owner Pays: Maintenance-Common Area, Repairs, Sewer, Snow Removal, Water
Parking: Blacktop, Parking Lot-Exclusive
Parking Spaces: 15
Sewer: Public Sewer
Tenant Pays: Electric, Gas, Heat
Units: 4
Utilities: Gas-Natural
Water: Public Water
Listed By / Shown By
Listed By
Agency Name: COMPASS NEW JERSEY, LLC
Agency Contact: 908-370-8695
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
Estimate Your Payment
Estimated Payment
$ 4,236.35 per month $2,670.68 Principal & Interest $1,215.67 Property Tax $350.00 Homeowner's InsuranceChange Payment Information
104 Ridgedale Ave | MLS# 3998270
This multi-family property located at 104 Ridgedale Ave, Hanover, NJ 07927 is currently listed for sale with an asking price of $1,200,000. Search Hanover real estate on www.realtymark.net today.