7601 MAGNOLIA DR Under Contract Save Request In-Person Tour Request Virtual Tour
Millville,NJ 08332
Key Details
Property Type Manufactured Home
Sub Type Manufactured
Listing Status Under Contract
Purchase Type For Sale
Square Footage 924 sqft
Price per Sqft $135
Subdivision Laurel Lakes
MLS Listing ID NJCB2021310
Style Modular/Pre-Fabricated
Bedrooms 2
Full Baths 2
Year Built 1980
Annual Tax Amount $1,074
Tax Year 2024
Lot Size 0.321 Acres
Property Sub-Type Manufactured
Property Description
**Investor Opportunity: Income-Generating Portfolio of 20 Rental Properties for $2,000,000**
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 **7601 Magnolia Dr**, offering a prime example of steady rental income. This charming home has been purposely left vacant to offer buyers the opportunity to tour a sample unit. The home itself boasts an **open-concept living area**, 2 spacious bedrooms, and two full baths, all nestled on a beautifully landscaped lot with mature trees and two off-street parking spaces.
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.
Location
State NJ
County Cumberland
Area Commercial Twp (20602)
Zoning VR2
Interior
Hot Water Electric
Heating Forced Air
Cooling None
Flooring Luxury Vinyl Plank
Fireplaces Number 1
Fireplaces Type Brick,Non-Functioning
Laundry Has Laundry,Main Floor,Hookup
Exterior
Exterior Feature Deck(s)
Garage Spaces 3.0
Fence Chain Link,Partially
Water Access N
Roof Type Flat
Building
Story 1
Sewer On Site Septic
Water Well
New Construction N
Schools
School District Millville Area
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard