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.nUnit 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. nAll tenants pay for their own utilities. Owners pays water, sewer, insurance and taxes.nFurnaces replaced 2016. 3 Hot water heaters replaced 2015-2018. nExtra 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.

Features
: Hot water
: Pitched
Y
: Unfinished, Full
: Stick Built
: Sidewalks, Street lights
: Wood
: Brick/mortar
2
: 2+ Access Exits
N
: Other
: Replacement
: Natural gas
: Electric
: Open, Level
N
Address Map
E
Route 518 into Hopewell Borough, Left on S. Elm St., Right on E. Prospect, Property on Right.
MLS Addon
Annually
Annually
HOPEWELL VALLEY REGIONAL SCHOOLS
2,068 Sqft
: Other
2,068 Sqft
$12,599
2020
R75P
: Public Sewer
: Public
N
$0

Multi-family For Sale

74 PROSPECT STREET, HOPEWELL, New Jersey 08525

2,068 Sqft
$599,000
Listing ID #NJME2005002
Basic Details
Property Type : Multi-family
Status : ACTIVE UNDER CONTRACT
Listing ID : NJME2005002
Price : $599,000
Rooms : 10
Sqft : 2,068 Sqft
Year Built : 1935
Lot Area : 0.22 Acre
Price Per SQFT : $290
Lot SQFT : 9,480 Sqft
Ownership Interest : Fee Simple
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