130 Garfield Ave, Lodi, NJ 07644-1562
130 Garfield Ave, Lodi, NJ 07644-1562Basic Details
- Date added: Added 3 days ago
- Type: Residential
- Category: For Sale
- Status: Open
Description
-
Description:
This multi-family residential property located at 130 Garfield Ave in Lodi, NJ, presents a unique investment opportunity with two structures situated on a single lot. The property comprises four distinct residential units, offering a total of 16 rooms, 8 bedrooms, and 4 full bathrooms. Two of the four units have undergone recent renovations within the past two years, enhancing their appeal and functionality. The property is well-maintained and offers significant value-add potential, particularly as two of the units are currently rented below market rates.
The unit configurations include one one-bedroom unit, one three-bedroom unit, and two two-bedroom units. Unit 1 is rented at $1,750 per month, Unit 2 at $2,250 per month, Unit 3 at $1,150 per month, and Unit 4 at $1,150 per month. All units feature separate utilities, providing individual control and billing for each residence. The current monthly gross income is $6,300, equating to an annual gross income of $75,000. With yearly expenses totaling $17,548, the net income for the property is $58,052.
The property spans 3,640 square feet of living space and is situated on a substantial lot of approximately 25,100 square feet, described as a level lot. Built in 1950, the property's exterior features include stucco and vinyl siding, with a composition shingle roof. Interior features noted for the units include carbon monoxide detectors and smoke detectors. Heating is provided for all four units, utilizing natural gas as the fuel source. Parking is available via on-street parking.
Conveniently located, this property offers easy access to the train station and public transportation, as well as proximity to schools, shopping centers, and major highways, enhancing its desirability for tenants. The property is situated in Bergen County and is zoned for Columbus Elementary School, Jefferson Middle/Jr. High School, and Lodi High School. This offering represents a compelling opportunity for investors seeking a property with established rental income and considerable upside potential in a prime Lodi location.
Property Details
- Parking: On-Street Parking
- Price per sqft: $269
- Cooling features & Heating features: 4 Units
- Bedrooms: 7
- Bathrooms: 4
- Appliances: Carbon Monoxide Detector, Smoke Detector
- Source: GSMLS
- MLS Number: 4052479
- Area: 3640 sq ft
- Total rooms: 4
- Year built: 1950
Amenities & Features
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Parking
Parking Information
- Parking/Driveway Description: On-Street Parking
- Garage Description: On-Street Parking
Interior
Bathroom Information
- # Of Full Bathrooms: 4
Room Information
- # Of Rooms: 15
- Has Basement
- Basement Description: Bilco-Style Door
Interior Features
- Interior Features: Carbon Monoxide Detector
Heating & Cooling
- Heating: 4 Units
- Heating Fuel Type: Gas-Natural
Exterior
Exterior Features
- Siding Description: Stucco
- Roof Description: Composition Shingle
Building Information
- Construction Date/Year Built Description: Approximate
Property Information
- Unit Style: 2-Two Story
- Renovated Year: 2020
Lot Information
- Lot Description: Level Lot
- Approximate Lot Size: 25,100
Financial
Tax Information
- Tax Amount: $12,853
- Tax Rate Amount: $3.54
- Tax Year: 2025
- Tax Rate Year: 2026
Assessment Information
- Assessment Building: $247,000
- Assessment Land: $116,100
- Assessment Total: $363,100
Utilities
Utility Information
- Utilities: Gas-Natural
- Sewer: Public Sewer
- Water Source: Public Water
Location
Multi Unit Information
- # Of Units: 4
- Net Operating Income: 58052
- Gross Operating Income: 75000
- Total Operating Expenses: 17548
- Expenses Include: Hot & Cold Water
Unit 1 Information
- # Of Bedrooms: 1
- # Of Bathrooms: 1
- # Of Levels: 1
- # Of Rooms: 3
- Room Description: Bedrooms
- Appliances/Equipment: Carbon Monoxide Detector
- Owner/Tenant Pays: Tenant Pays Electric
- Rent: 1750
- Security Deposit: $1
- Total Sq. Ft.: 850
Unit 2 Information
- # Of Bedrooms: 3
- # Of Baths: 1
- # Of Levels: 1
- # Of Rooms: 5
- Room Description: Bedrooms
- Appliances/Equipment: Carbon Monoxide Detector
- Owner/Tenant Pays: Tenant Pays Electric
- Rent: 2250
- Security Deposit: $1
- Total Sq. Ft.: 1,000
Unit 3 Information
- # Of Bedrooms: 2
- # Of Baths: 1
- # Of Levels: 1
- # Of Rooms: 4
- Room Description: Bedrooms
- Appliances/Equipment: Carbon Monoxide Detector
- Owner/Tenant Pays: Tenant Pays Electric
- Rent: 1150
- Security Deposit: $1
- Total Sq. Ft.: 865
Unit 4 Information
- # Of Bedrooms: 2
- # Of Baths: 1
- # Of Levels: 1
- # Of Rooms: 4
- Room Description: Bedrooms
- Appliances/Equipment: Carbon Monoxide Detector
- Owner/Tenant Pays: Tenant Pays Electric
- Rent: 1150
- Security Deposit: $1
- Total Sq. Ft.: 925
School Information
- Elementary School: COLUMBUS
- Middle/Jr. High School: JEFFERSON
- High School: LODI HS
Public facts
- Beds: —
- Baths: —
- Finished Sq. Ft.: 1,978
- Unfinished Sq. Ft.: —
- Total Sq. Ft.: 1,978
- Stories: 2.0
- Lot Size: 2,500 square feet
- Style: Single Family Residential
- Year Built: 1910
- Year Renovated: —
- County: Bergen County
- APN: 3100013 00013
Other
Listing Information
- Attribution Contact: 201-522-7641
Nearby Schools
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Schools: Roosevelt School
- Public
- PreK-5
- Assigned
- 0.2 miles
Thomas Jefferson Middle School- Public
- 6-8
- Assigned
- 0.2 miles
Lodi High School- Public
- 9-12
- Assigned
- 1.1 miles
Roosevelt School No 7- Public
- PreK-5
- Assigned
- 0.5 miles
Lodi Middle and High School- Public
- 6-12
- Assigned
- 0.7 miles
Bergen Arts And Sciences Charter School- Charter
- K-12
- Assigned
- 0.3 miles
Madison School No 10- Public
- PreK-5
- Assigned
- 0.6 miles
Felician School for Exceptional Children- Private
- 4-12
- Assigned
- 0.5 miles
Immaculate Conception High School- Private
- 9-12
- Assigned
- 0.4 miles
Place
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Place: Blackjack Mulligan’s Public House
- Restaurant
- Sports Bar
- American Restaurant
Donnie & Juniors- Bowling Alley
- Dive Bar
The Lounge - Felician College- Cocktail Bar
- Lounge
Grateful Bread- Bakery
- Coffee Shop
- Restaurant
Lodi Mini Mart- Coffee Shop
Sweet Belly 3D/4D Ultrasound Studio- Hospital
MO's Banquet Hall & Events- Concert Hall
- Music Venue
Boys & Girls Clubs of America- Music Venue
Lodi Rec Tee Ball- Stadium
- Recreation Center
Magsstore- Arts and Entertainment
Agent
MICHAEL N TODARO
SERHANT NEW JERSEY LLC
Location
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