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Key Details
Property Type Mobile Home
Sub Type Mobile Pre 1976
Listing Status Active
Purchase Type For Sale
Square Footage 672 sqft
Price per Sqft $156
Subdivision Laurel Lakes
MLS Listing ID NJCB2021284
Style Modular/Pre-Fabricated
Bedrooms 2
Full Baths 1
HOA Y/N N
Abv Grd Liv Area 672
Year Built 1968
Annual Tax Amount $637
Tax Year 2024
Lot Size 5,998 Sqft
Acres 0.14
Lot Dimensions 60.00 x 100.00
Property Sub-Type Mobile Pre 1976
Source BRIGHT
Property Description
Presenting an exceptional investment opportunity in the highly sought-after Laurel Lakes community! This portfolio includes 20 well-maintained, tenant-occupied properties, all strategically located within the same thriving neighborhood. With a consistent and reliable tenant base, these homes provide immediate cash flow and long-term stability.
One property within this portfolio is **6415 Magnolia**, offering a prime example of potential steady rental income. This charming home has been recently been vacated and refreshed for its next occupant. With fresh paint, and updated Luxury Vinyl Plank flooring throughout, it offers a cozy and modern vibe. The exterior has also been freshly painted offering sharp curb appeal. The home itself boasts an open-concept living area, 2 spacious bedrooms, and a full bath, all nestled on a beautifully landscaped lot with mature trees and two off-street parking spaces. This property is listed for rent by owner right now but is also available to be sold independent of the portfolio to an owner occupant. Cash only and As-Is.
Key Investment Highlights:
- **Portfolio Price**: $2,000,000 for 20 properties
- **Annual Gross Income**: $240,000
- **12% CAP Rate**: Strong return potential in a stable, in-demand location
- **Tenant Stability**: Long-term, reliable tenants in place across all properties
- **Maintenance & Management**: Well-maintained homes with minimal upkeep required
This portfolio presents a rare opportunity to secure a high-performing asset in a community with ongoing rental demand and future growth potential. With a strong CAP rate and consistent cash flow, this investment is ideal for serious investors seeking to expand their holdings in a thriving market. Don't miss out on this lucrative opportunity in Laurel Lakes! Portfolio includes MLS# NJCB2021228, NJCB2021246, NJCB2021260, NJCB2021276, NJCB2021262, NJCB2021278, NJCB2021280, NJCB2021286, NJCB2021284, NJCB2021288, NJCB2021290, NJCB2021294, NJCB2021296, NJCB2021298, NJCB2021300, NJCB2021302, NJCB2021304, NJCB2021306, NJCB2021308, and NJCB2021310.
Location
State NJ
County Cumberland
Area Commercial Twp (20602)
Zoning VR2
Rooms
Main Level Bedrooms 2
Interior
Hot Water Electric
Heating Forced Air
Cooling None
Flooring Luxury Vinyl Plank
Fireplace N
Heat Source Electric, Natural Gas
Laundry Main Floor
Exterior
Garage Spaces 3.0
View Y/N N
Water Access N
Roof Type Flat
Accessibility Ramp - Main Level
Total Parking Spaces 3
Garage N
Private Pool N
Building
Story 1
Above Ground Finished SqFt 672
Sewer On Site Septic
Water Well
Architectural Style Modular/Pre-Fabricated
Level or Stories 1
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Millville Area
Others
Pets Allowed N
Senior Community No
Tax ID 02-00111-06563
Ownership Fee Simple
SqFt Source 672
Acceptable Financing Cash
Horse Property N
Listing Terms Cash
Financing Cash
Special Listing Condition Standard
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Giovanni Maggipinto
Realtor Associate | License ID: 1644529
Realtor Associate License ID: 1644529