1. New Jersey
  2. Phillipsburg Town
  3. 41 Colby Place
$625,000

41 Colby Place, Phillipsburg Town, NJ 08865

  • 8 beds |
  • 3 baths
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1900
  • Property Lot Size Icon7,405sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 4 days ago

Property Description

Investor Alert! This fully rented Triplex Multi-Family in the heart of Phillipsburg offers strong returns and turnkey stability. Renovated in 2024, 41-43-45 Colby Place features 2,622 square feet of updated living space across three spacious units. Set on a quiet, private one-way street, this turnkey property blends classic charm with modern convenience. Strong financials include a 10.11% Cap Rate, 10.20 Gross Rent Multiplier, and 1.5604 Debt Service Coverage Ratio making it a great candidate for a DSCR loan. Each unit showcases fresh upgrades like luxury vinyl plank flooring, new cabinetry and countertops, contemporary finishes, and split-system heating and cooling for efficient year-round comfort. The upper-level finished loft adds versatile bonus space perfect for storage, a home office, or additional living area. Fully occupied with reliable tenants, this property is generating income from day one with minimal maintenance required. Tenants appreciate the bright interiors, smart layouts, and the peaceful neighborhood setting close to schools, shops, dining, and commuter routes. Whether you're a first-time investor or expanding your portfolio, this income-producing triplex offers the ideal combination of location, performance, and potential. With strong market appeal and updated systems already in place, 41-45 Colby Place is a smart buy in a growing rental market. Ask your realtor for the Rent Roll / Proforma spreadsheet and walk-through video today.

Listing Status:
Active
Listing Office:
KELLER WILLIAMS REAL ESTATE : 908-751-7750
MLS ID:
3992931
  • General: Carbon Monoxide DetectorHigh CeilingsSee RemarksSmoke Detector
  • Basement: FullUnfinished
  • A/C: See RemarksWall A/C Unit(s)Window A/C(s)
  • Heating: Baseboard - ElectricBaseboard - HotwaterFloor/Wall HeaterSee RemarksGas-Natural
  • General: Vinyl SidingCurbsSidewalkWood Fence
  • Parking: Parking spaces: 3
  • Roofing: Asphalt Shingle
  • County: Warren
  • Driveway: On-Street ParkingSee Remarks
  • Zoning: Residential3019-01313-0000-00010-0000-
  • Utilities: ElectricGas-Natural
  • Water: Public Water
  • Sewer: Public Sewer

This listing courtesy of KELLER WILLIAMS REAL ESTATE

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

P

Phillipsburg Elementary School

525 Warren St, Phillipsburg, NJ, 08865

Grades 3-5

0.40 miles away

P

Phillipsburg Middle School

200 Hillcrest Blvd, Phillipsburg, NJ, 08865

Grades 6-8

0.56 miles away

P

Phillipsburg High School

1 Stateliner Blvd, Phillipsburg, NJ, 08865

Grades 9-12

1.74 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

Similar Listing

178 Filmore St, Phillipsburg Town, NJ 08865
Multi-Family Home For Sale

$597,900

  • 8 bed |
  • 4 bath
178 Filmore St Phillipsburg Town, NJ 08865

#3986977 - WEICHERT REALTORS