1129 Cottman Avenue

Description

Great opportunity for either an owner occupant or investor! Live in one unit and rent the other two units- cheaper than renting! This tri-plex dwelling has three single bedroom units all occupied by long term tenants who are not currently paying fair market rental due to the fact they are excellent tenant and their longevity. The tenants would wish to stay if the new owners can come to terms with each of them on a fair rent increase. If not then they are all on month to month lease with a 60 day notice. The building has 3 separate gas fired hot water heating systems with two of the boilers approximately 10 years new while the third is less than one year old. There is also three separate gas fired domestic hot water heaters. Each of the units has its own separate electrical panel box in the basement. This property is an all brick twin tri-plex located near Five Points in the Burholme section of Five Points Near shopping and transportation. Each of the floors have had multiple improvements over the last ten years. The full basement is shared between the units and used for both laundry facilities as well as storage and heater area. In the rear is a lovely yard which likewise is shared by each of the tenants. As seen in the pictures each of the tenants takes very good care of their apartment and each of the kitchens and bathrooms have been updated and improved. Very nice condition. The first floor tenant coordinates all appointments. The listing agent has an interest in the property. The owner is a licensed real estate agent in New Jersey. Based on the market conditions this property has an awful lot to offer at this price!