41-45 Colby Place new Save Request In-Person Tour Request Virtual Tour
Phillipsburg Town,NJ 08865
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,622 sqft
Price per Sqft $238
MLS Listing ID 3992931
Style 3-Three Story, Triplex
Bedrooms 8
Full Baths 3
Year Built 1900
Annual Tax Amount $8,181
Tax Year 2025
Lot Size 7,405 Sqft
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.
Location
State NJ
County Warren
Zoning Residential
Rooms
Basement Full, Unfinished
Interior
Interior Features Carbon Monoxide Detector, High Ceilings, See Remarks, Smoke Detector
Heating Gas-Natural
Cooling See Remarks, Wall A/C Unit(s), Window A/C(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Parking Features On-Street Parking
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Sewer Public Sewer
Water Public Water
Architectural Style 3-Three Story, Triplex
Schools
Elementary Schools Philipsbrg
Middle Schools Philipsbrg
High Schools Philipsbrg
Others
Senior Community No