306 Irving Ave, Bridgeton, NJ 08302
Investment opportunity with excellent capital appreciation potential when rehabbed
Nice duplex in a great location.
Strong rental demand as the property is facing major Health Care facilities
Built in 1910
Lot: 2,565 sq ft lot (27’x 95’)
Good income potential: $1,250/ month
Description
The property is half of a twin two story house with basement. The front facades benefits from an attractive multi-color design of two different types of framing. The property is about 1,280 SF currently consisting of a spacious lounge and large kitchen on the first floor , bedrooms and bathroom on the second floor and a full basement.
Condition
The property has been vacant for a while and now needs a full rehab, but once completed the property has tremendous potential.
The front foundation of the property needs supporting. The other sides of the foundation and the house are structurally sound. A structural engineer report is attached in the due Diligence section. The City requires the owner to do work on the foundation without delay. The front of the foundation needs temporary support before it is done. An engineer report is included in Appendix B which explains the condition of the front foundation and confirms the other sides are structurally sound.
Pleasant and quite location:
The house is located on a nice street with a mix of residential and small businesses. Major healthcare facilities that are within less than two minutes’ walk from the property as follows:
- Donna McLean (Health care for women)
- South Jersey Healthcare and Hospital
- Complete Care Health Network New Jersey
- Complete Care Pediatric and Family
- Inspira Health Center Bridgeton
The property is also located within a short walking distance from local amenities and facilities. It is accessible and very conveniently located being just 1.1 miles from Downtown Bridgton.
Distance to other cities:
Wilmington DE 36 miles
Newark DE 42 miles
Atlantic City, NJ 48 miles
Philadelphia 49 miles
The property is close to local facilities and amenities:
Restaurants
Los Molcajetes Taqueria Restaurant (0.3mi), New Hop Shing Kitchen (0.3mi), Bridgegton mkt & deli (0.5), Indian Fields Market (0.5), Hop Shing Kitchen (0.8), Comida china (0.8), Cruz's Food Market Evangelista (0.8mi), Domino's Pizza (0.8mi), El Sabor Mexicano (0.8mi), Fuleen Meng Restaurant (0.8mi), La hacienda taqueria restaurant (0.8mi), Big John's Pizza (0.8mi), New China Buffet (0.8mi), Lam Fong Chinese Food (0.8mi), Wendy's (0.8mi), Carmelo's Ristorante (0.8mi), Donatellos Pizza (0.8mi), Tio Santos Restaurant (0.8mi), La Cabana (0.9mi), The Towne Restaurant (0.9mi), Crown Chicken & Grill (0.9mi), Good Flavor (0.9mi), Mundo De Ilusiones (0.9mi), KFC (0.9mi), Louisiana Famous Fried Chicken (0.9mi), ANTONIO'S PIZZA & PASTA (1mi), Venus Chinese Restaurant (1mi), Bridgeton Family Diner (1.1mi), Antonio's Delicatessen (1.1mi), Fresh Start Soul Grill (1.4mi), Vito's Restaurant (1.4mi), Poliseno's Italian Deli (1.5mi), Popeyes® Louisiana Kitchen (1.6mi), Joe's Pizza (1.6mi), Best Food In Town (1.6mi), BURGER KING® (1.7mi), Little Caesars Pizza (1.8mi), Giaccomo's Pizzeria (1.8mi), Pizza Hut (1.8mi), Di Lisi Ristorante & Pizzeria (2mi), Number One Chinese Kitchen (2mi), Golden Pigeon Diner Restaurant (2.2mi), SUBWAY® Restaurants (2.3mi), Hopewell Sub & Pizza (2.4mi) Green Olive Restaurant & Lounge (2.4mi), La Mexicana Restaurant & Catering (2.5mi), La Villa (2.5mi), Cornbread House (2.5mi), Lucy's Mexican Restaurant (2.7mi), Terrigno's Fairfield Inn (2.8mi), Franco's Market Deli & Pizzeria (4.3mi), Pepie's Pizza (4.5mi), Pollocks Pizza Plus (4.6mi)
Coffee
Cohansey Works (0.6mi), Mc Donald's (0.9mi), Cohansey Café (0.9mi), Dunkin' Donuts (0.9mi), 7-Eleven (1.3mi), Academy st bridgeton NJ (1.3mi), McDonald's (1.8mi), Dunkin' Donuts (2.1mi), Auntie Anne's (2.3mi), Nicey's Corner Café (2.6mi)
Bars
El Rodeo Bar (0.5mi), De Olde Town Tavern (0.9mi), Hillcrest Tavern (1.1mi), Red Brick Tavern (1.4mi)
Groceries
Groceries & Deli Los Puentes (0.3mi), Nacho's (0.4mi), El Paisano Grocery Store (0.4mi), Casa Reyes Mexican Products (0.4mi), J & M Grocery Store (0.4mi), Primos Grocery & Deli (0.6mi), Laurel Mini-Market (0.7mi), El Asador (0.7mi), La Mixtequita (0.8mi), Save-A-Lot (0.8mi), C-Town Supermarkets (0.8mi), Bridgeton Outdoor Market at the Riverfont - A community Farmers' Market (0.9mi), Azteca Internacional LLC (0.9mi), Sosa's Grocery (1.1mi), Sal's Market (1.3mi), Lincoln Deli & Grocery LLC (1.4mi), Nacho Mini Market III (1.5mi), ShopRite of Upper Deerfield (1.6mi), ALDI (2mi), Walmart Grocery Pickup (2.3mi), Shiloh Market (4.6mi)
Parks
Bridgeton City Park (1.1mi), Clarks Pond Fish and Wildlife Management Area (3.3mi)
Schools
Indian Ave School (0.3mi), Buckshutem Road School (0.7mi), Cumberland Day School (0.8mi), Cherry Street School (1.1mi), Broad Street Elementary School (1.4mi), Bridgeton High School (1.4mi), West Ave School (1.4mi), Southwoods State Prison High School (1.5mi), Quarter Mile Lane School (1.8mi), Bridgeton Christian School (1.8mi), Cumberland Reg High School (2mi), Fairfield Township School (2.1mi), Devereux-njca (2.6mi), Hopewell Crest School (2.6mi), Cumberland County Juvenile Center (2.7mi), Woodruff School (3.5mi), Cumberland County Technical Education CT High School (3.8mi), Elizabeth F Moore School (4.7mi), Charles F Seabrook School (4.8mi), Woodruff School (4.8mi)
Shopping
Shine Different (0.6mi), Jay Spray Graffix (0.6mi), Book Outlet Inc (0.7mi), Ultimate Gear & Fashion (0.8mi), Rainbow Shops (0.8mi), EL BAUL DE RICARDO (0.8mi), Creaciones Guanajuatense Padre Nieves (0.9mi), A Novel Idea Chapter II (0.9mi), Andrea's Boutique (0.9mi), Bernie's (0.9mi), Fahrnbach House of Natural Fur (0.9mi), Family Dollar Store (0.9mi), MKS1 LLC (1.3mi), The Maria Collection - Diamonds & Design (1.8mi), Family Dollar Store (1.8mi)
Entertainment
Woodruff Museum of Indian (0.8mi), Nail House Museum (0.9mi), Bridgeton Hall of Fame (1.1mi), Seabrook Educational and Cultural Center (4.3m)
Errands
Tom Dailey's Hardware Store (0.5mi), Woodruff's Drugs (0.8mi), Sun National Bank (0.9mi), Walgreens Pharmacy (0.9mi), Wildflowers (0.9mi), Walgreens (0.9mi), Rocco Cavalieri, RPH (0.9mi), TD Bank (0.9mi)
(walkscore.com)
Demographics for Bridgeton NJ:*
Total population 24,773
White: 41.11% Black/ African American: 31.29%
Average Home Value $143,924
Average Household Income $50,159
* https://newjersey.hometownlocator.com
THIS IS A UNIQUE OPPORTUNITY FOR THE SAVVY BUSINESS OWNER, DEVELOPER OR INVESTOR TO OWN A POTENTIALLY HIGH INCOME PROPERTY AT A DISCOUNTED PRICE IN A GREAT LOCATION.
Great investment opportunity:
The property has excellent capital appreciation potential when rehabbed.
Comparables for sale (rehabbed):
470 Irving Ave, Bridgeton, NJ 08302 – 3 beds $154,900
Rental income:
Estimated income potential once rehabbed: $1,200/ month*
Strong demand expected from doctors and nurses due to proximity to main HealthCare facilities
*hotpads.com
Taxes:
Cumberland County NJ - Parcel: Block 104 Lot 7
Back taxes due: $508.78
PROPERTY IS SOLD AS IS, WHERE IS-
Buyer assumes real estate taxes, liens, bills and encumbrances (if any)
Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.
Buyer will also be responsible for $500 deed prep and doc fee as well as 8 % premium.
10% non-refundable deposit (minimum $1,000), auction premium (Minimum $250) and $500 deed preparation and doc fee are due within 48 hours of auction close.
Final Payment to be made within 1 week of the Auction close.
All bidders to do their due diligence. Property is sold on a Quit Claim deed. Buyer assumes real estate taxes, liens, bills and encumbrances (if any). Buyer is responsible for directly checking the up-to-date amounts of the back taxes, liens and the requirements of the building code department. Buyer is responsible for making the foundation repairs and for meeting building code requirements. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. Buyers are responsible for fixing building code violations (if any). Buyers are bound by the Purchase Agreement which is attached under the Due Diligence section. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
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Bridgeton, NJ 08302 –1,208 sq ft house in a great location
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