349 E Broadway, Salem, NJ 08079

UNDER CONTRACT. OPEN HOUSE CANCELED. Welcome to 349 East Broadway, a spacious 2-story single-family home nestled in the heart of Salem, NJ. This property is a golden opportunity for savvy investors seeking both immediate rental income and long-term growth potential. With 5 bedrooms and 2 full bathrooms, this versatile home is perfect for a multi-family setup or a spacious single-family residence. On the first floor, you'll find 3 large bedrooms, a full bathroom, and expansive living and dining areas complete with a wood-burning fireplace. The fully equipped kitchen makes this floor ideal for family living or rental income generation. The second floor features 2 generous bedrooms, a full bathroom, and a space that was formerly a kitchen and dining area, offering potential for additional living quarters or other creative uses. This floor also features a screened-in porch overlooking the backyard. The property boasts a sizable fenced-in yard, providing privacy and ample outdoor space. Additionally, a bonus subdivided lot (Block 00069 Lot 00051) is included, offering exciting possibilities for future development or expansion. Currently tenant-occupied, this property is generating $1,100 per month through a HUD-supported month-to-month lease, with the potential for increased rental income. The flexibility of the lease offers both stability and opportunity, making this an attractive investment for those looking to maximize returns. Don't miss out on this unique opportunity to invest in a property with substantial income potential and future growth. Contact us today to schedule a tour and take the first step toward expanding your real estate portfolio!