NJ > Phillipsburg Town
Phillipsburg Town, NJ 08865,41-45 Colby Place
Phillipsburg Town, NJ 08865,41-45 Colby Place
Phillipsburg Town, NJ 08865,41-45 Colby Place
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$625,000
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8 Beds
3 Baths
2,622 SqFt
New

41-45 Colby Place Phillipsburg Town, NJ 08865

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Ryan Destler

Ryan Destler

+1(908) 930-0960

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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

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by KELLER WILLIAMS REAL ESTATE

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Ryan Destler

Ryan Destler

Agent | License ID: 2077667

+1(908) 930-0960

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41-45 Colby Place

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