Last Updated: 2/22/2017 11:02 PM
Description for 255 Park Avenue Collingswood, NJ 08108
Great income opportunity for an investor. Triplex with 2 car garage has multiple potential income streams. First Floor front unit is a one bedroom unit with large kitchen, large living room and large dining room (was being used as a second bedroom, includes doors etc and could potentially be fully converted to a 2nd bedroom to maximize rental value) First Floor back unit is an efficiency unit with a full bath, small kitchen, and living/sleeping area. 2nd Floor unit is a 1 bedroom with separate living area, kitchen, and full bathroom. All tenants have basement access with washer's and dryers. Potential to create additional income by creating a coin-op laundry room that services the building. Additionally there is a two car garage that could easily be rented for 100 a month per bay for additional income. This building is full of potential but does need some tlc and is being sold strictly in as-is condition. Though it needs a few some cleaning up and updating, the following items have been completed to date: Recent improvements include a new (2014) gas fired, Crown boiler, a two ton central air conditioner servicing the 1 bed unit lower unit, three new hot water heaters, mostly all newer energy efficient replacement windows(2013). The following modifications could potentially make a significant change to the cash flow: Splitting the heaters and having each tenant pay their own heat, billing water and sewer to each tenant, adding coin op laundry, renting both garages out, updating the units to receive maximum rent. Price reflects a discount so that an investor can make the changes to make this an amazing building to have in any portfolio.
Gas Water Heater, Public Water Service
Central Air, Wall Air Conditioning
Exterior / Lot Features
2 Garage Spaces, 2 Parking Spaces,
Current market conditions for 255 Park Avenue
Active Market Trends
Median list price$219,900
Days on market137
Properties for sale47
Sold Market Trends
Median sold price$177,500
Sales to list price9,703.0%
Median sq ft price$125
Arrows indicate 90 day trend
Listing Price History for 255 Park Avenue
Collingswood Real Estate
Collingswood is located in New Jersey. Collingswood, New Jersey 08108 has a population of 13,923.
The median household income in Collingswood, New Jersey 08108 is $61,399. The median household income for the surrounding county is $62,320 compared to the national median of $53,046. The median age of people living in Collingswood 08108 is 38.9 years.
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