311 Lakeview Dr

Collingswood, NJ 08108

Check out this unique opportunity to own a multi-family duplex in desirable Collingswood, NJ! This Victorian duplex features 2 units- Unit 1 has 3 beds and 1.5 baths. Unit 2 has 3 beds and 1 bath. Current gross rent is $50,400 annually. Both units have 9ft ceilings, hardwood floors throughout, a private 2 bay garage with an automatic door, spacious driveway parking for 4 cars, and is a short walk to Newton Lake! This first floor unit currently has long term tenants and their lease includes one bay in the two car garage and exclusive access to the backyard screened porch. Rent is $2000 per month until 6/30/2023 then the tenant has a 2 year option to renew at a rate of $2100 per month. Unit 1 tenant takes care of all exterior lawn and snow maintenance. Heading into Unit 1, you?ll be greeted by a sizable living room with a wood burning fireplace and a beautiful bay window. The dining room features floor to ceiling windows. The kitchen is complete with tons of cabinet storage and wrap-around countertops. Rest comfortably in the spacious primary bedroom on the main floor. This unit?s living space continues in the basement which is finished with a bonus living room, powder room, laundry room and third bedroom with outside access. Unit 2 has a current 1 year lease in effect and includes driveway parking. The second garage bay is rented to tenants for an additional $200/month. Unit 2 rent is $2000 per month + $200 for the garage on a one year lease until Jan 31, 2023 and they have expressed interest in staying for 2 additional years. Entering Unit 2, on the second floor, the main floor is divided by glass paned doors separating the large living room and dining room. The kitchen is complete with upgraded granite countertops and brand new appliance package. Behind the kitchen sits the laundry room with extra shelving. A full bathroom with a tub/shower combo completes the main floor. The third floor houses the primary bedroom with an expansive 515 square foot walk-in closet filled with natural light. Current owner removed and rewired all knob and tube wiring for a cost of $17K, replaced all problematic windows, subdivided the garage and added electric openers. In the second floor unit the owner refinished floors, installed new appliances and granite counters and rehabbed the bathroom. This property is an incredible investment opportunity with endless possibilities - rent both units and additional parking space, convert into a single family residence, or use the property as a mix of both as an owner-occupied duplex. This location is impeccable as well - walking distance to the PATCO with service to Center City Philadelphia, and just around the corner from vibrant Haddon Ave hot spots like @hearthsidebyob, @sabrinascafe, @revolutioncoffee, @haddonculinary, @junebyob, @wildjuiceco and more. Just minutes away from most major highways and bridges to Philadelphia, Market Place at Garden State Park and Cherry Hill Mall. Don?t miss this terrific opportunity to own this duplex in a sought-after Collingswood!