Bidwell, New Jersey - Vertigo Investments

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Bidwell

New Jersey $164,500
  • 3 Bed Apartment, 2 Bed Apartment
  • Planned refurbishment

  • Rental Information

Bidwell: $164,500 / 10.8% net yield

This is a double family home, with the two units on the same title deed and in the same building. One is a three-bedroom apartment; the other a-two bedroom with the possibility to convert into a three-bed.

It is currently tenanted with the three-bed tenant paying $1,100 per month and the other currently paying a below market value rate of $800 until required refurbishment has been completed to bring it up to a rent of $1,100.

The two-bed tenant is on a short-term lease and will move out if they do not accept the new, higher rent. Both tenants have been vetted and placed by the management company and the investor may choose to keep the same tenants or seek new ones (which the management company can also help with).

Refurbishment is anticipated to take around three weeks and is completed by agents with 30 years of rehabbing property in both New Jersey and Florida. Photographs of the refurb will be provided.