21-23 Lake Avenue

Description

This charming side by side duplex in the heart of Swedesboro is within walking distance of downtown. The exterior features nice front porches, low maintenance vinyl siding, an architectural shingle roof, vinyl windows, and off street parking (via an alley from Kings Hwy). Pictures are exterior, 21 Lake, and then 23 Lake. 21 Lake is a 3 bedroom, 1.5 bath unit rented at $1411 per month. The main floor features a bedroom, dining area, an eat in kitchen with tile floors & ample cabinets, a half bathroom, and a living room. Upstairs are 2 more generously sized bedrooms and a huge full bathroom. The third floor finished attic could be a perfect space for an office or play area. This unit is served by a gas boiler in their side of the basement. 23 Lake is 3 bedrooms, 1 bathroom ($1410 per month as $1300 per rent plus $110 per month for water due as additional rent) and has a mud room off the back, a large eat in kitchen, a dining room, plus a living room. Upstairs are the 3 spacious bedrooms, and a recently updated full bathroom with vinyl tub surround and newer vanity. This unit is served by a gas forced air heater (2016), so ductwork is in place if someone wanted to add central air. It is located in this side of the basement for this unit. Both leases are month to month, so this could also be a great opportunity for an owner occupant. Annual gross rents of $33,852. Net operating income before debt of $20,268. CAP rate about 8.62%. Potential to increase gross rents to $37-38,000 per year. Public water. Public sewer. Another money making duplex is also available at 520-522 2nd St, Swedesboro!