ARV: $600k – $700k
Starting Bid: $375,000

Here’s a bullet-point analysis of the benefits of this deal at a starting bid of $375,000

📉 Undervalued Entry Price
Starting bid of $375,000 is 40–60% below the projected multifamily ARV range ($585k–$800k).
Huge margin for value-add investors — $300k–$500k spread potential.



🏗️ Massive Footprint = Flexibility
Nearly 6,000 sqft of usable space — rare in this market.
Can be converted into:
3 oversized units (≈2,000 sqft each) or
4 mid-size units (≈1,500 sqft each).



💰 Strong Income Potential
Option 1 (3 Units) → Gross rent: $6,000/mo, ARV: $585k–$670k.
Option 2 (4 Units) → Gross rent: $7,200/mo, ARV: $700k–$800k.
Income supports cap rate valuations at 7–8%.



🚗 Bonus: Income from Garage Space
Large detached garage on-site.
Potential for $300–$500/mo extra from:
Tenant storage.
Local contractors/small businesses.



🔑 Versatile Exit Strategies
Flip to high-end SFR (6 bed / 3 bath layout) → ARV up to $700k.
Hold as MF rental → Cash-flowing 3–4 unit with solid yield.
Owner-user opportunity for live/work or small business.



📍 Zoning + Location Notes
Property is located in Florence Township, in proximity to:
River Line station.
I-295 / NJ Turnpike.
Area demographics support consistent rental housing demand.
Given the size and layout, there may be potential for multifamily use or variance.
All buyers must conduct their own due diligence with the township to verify zoning, potential conversions, and permitted uses.



📊 Investor Takeaway
“You’re buying at land value for a 6,000 sqft building that could conservatively generate $85k+/year in gross rent — with additional income from garage space. Whether flipped or held, this is a high-margin repositioning play in a rental-friendly market.”

Starting Bid: $375,000