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$ 615,000
Est. payment | /mo
2 Beds
$ 615,000
Est. payment | /mo
2 Beds
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 613272
Bedrooms 2
Annual Tax Amount $8,125
Tax Year 2026
Property Sub-Type Triplex
Property Description
A well-positioned income-producing triplex on one of Somers Point's most traveled corridors, offering immediate cash flow with meaningful upside. This three-unit property sits on Shore Road just minutes from Ocean City, the bay, and Shore Medical Center — a location that keeps units occupied year-round. The building comprises two one-bedroom units and a studio, generating current rents of $1,333, $1,800, and $1,300 per month for a combined gross income of $4,433/month. The third unit — a one-bedroom currently rented at $1,300 — is being offered with a projected post-renovation rent of $1,700/month, representing a straightforward value-add play with a clear path to $4,833/month in stabilized gross income. Pro forma cap rate = 7%. Built circa 1900 and encompassing approximately 1,795 square feet on a 0.17-acre lot, this property suits an owner-occupant looking to offset carrying costs or an investor seeking a low-maintenance addition to a South Jersey coastal portfolio. The Shore Road location delivers consistent rental demand driven by proximity to the Ocean City bridge, hospital employment, and the broader Atlantic County job market. Whether you're acquiring at current rents or executing the light renovation to push Unit 3 to market rate, the numbers work from day one.
Location
State NJ
County Atlantic
Community Somers Point
Area Somers Point City
Interior
Heating Forced Air
Exterior
Parking Features None
Building
Sewer Public Sewer
Water Public
Others
Senior Community No
Listed by Compass New Jersey-Ocean City (O463E)
NEARBY SCHOOLS & PROPERTIES
Kayla Noll
REALTOR® | Team Principal License ID: NJ-1643324
+1(732) 735-1918 | kayla@kaylanollgroup.com