349 E BROADWAY, Salem, NJ 08079 – NJSA2012030

Key Details

Property Type Single Family Home

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 2,348 sqft

Price per Sqft $36

Subdivision None Available

MLS Listing ID NJSA2012030

Style Colonial

Bedrooms 5

Full Baths 2

Year Built 1890

Annual Tax Amount $3,980

Tax Year 2019

Lot Size 7,524 Sqft

Property Description

CALLING INVESTORS!! Welcome to 349 East Broadway, a spacious 2-story single-family home nestled in the heart of Salem, NJ. This property is a golden opportunity for savvy investors seeking both immediate rental income and long-term growth potential. With 5 bedrooms and 2 full bathrooms, this versatile home is perfect for a multi-family setup or a spacious single-family residence.

On the first floor, you'll find 3 large bedrooms, a full bathroom, and expansive living and dining areas complete with a wood-burning fireplace. The fully equipped kitchen makes this floor ideal for family living or rental income generation.

The second floor features 2 generous bedrooms, a full bathroom, and a space that was formerly a kitchen and dining area, offering potential for additional living quarters or other creative uses. This floor also features a screened-in porch overlooking the backyard.

The property boasts a sizable fenced-in yard, providing privacy and ample outdoor space. Additionally, a bonus subdivided lot (Block 00069 Lot 00051) is included, offering exciting possibilities for future development or expansion.

Currently tenant-occupied, this property is generating $1,100 per month through a HUD-supported month-to-month lease, with the potential for increased rental income. The flexibility of the lease offers both stability and opportunity, making this an attractive investment for those looking to maximize returns.

Don't miss out on this unique opportunity to invest in a property with substantial income potential and future growth. Contact us today to schedule a tour and take the first step toward expanding your real estate portfolio!

Location

State NJ

County Salem

Area Salem City (21713)

Zoning RES

Rooms

Other Rooms Dining Room,Bedroom 2,Bedroom 3,Bedroom 4,Bedroom 5,Kitchen,Family Room,Bedroom 1,Bathroom 1,Bathroom 2,Screened Porch

Interior

Hot Water Oil

Heating Baseboard - Hot Water

Cooling Window Unit(s)

Flooring Carpet,Hardwood

Fireplaces Number 1

Fireplaces Type Brick,Wood

Inclusions Property is to be sold with tenant and tenants belongings. Tenant is on a month-to-month lease, HUD paid $1100 and could increase. (EXTRA LOT INCLUDED: Block 00069 Lot 00051)

Equipment Dishwasher,Dryer,Refrigerator,Washer

Laundry Main Floor

Exterior

Fence Fully

Utilities Available Natural Gas Available,Above Ground

Waterfront N

Water Access N

Roof Type Shingle

Building

Story 2

Foundation Block

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Salem City Schools

Others

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Standard