1174-1176 Stokes Rd, Medford, NJ 08055

This is a multi-unit property - 2 homes for 1 price - a duplex with both sides (1174 and 1176 Stokes) being sold - such a RARE OPPORTUNITY to purchase both sides or twins as so many have been condo'd out and sold separately and both are now fully renovated! The renovations are now complete on the both units - 1174 Stokes and 1176 Stokes! Based on comparable rentals, each unit should rent for approx. $2,500 per month. The ROI is estimated at 11%/yr. This truly is a RARE OFFERING where both 'twins' are being sold and WOW this is exceptionally priced! The location is PRIME as it is centrally located in Medford across from Medford Lakes & a short walk to P. J. Whelihans and the shops on Trading Post Way. Nicely set back from the road & situated on a huge 1.24077 acre lot, the yard has been partially cleared, there is plenty of parking and it is Oh So Private! It is steps away to the Medford Pines beach / lake for swimming in the summer and skating in the winter and a trail to the right leads back to Sunset Trail & walking/biking path . This duplex was previously on the market when it was tenant occupied & both tenants have vacated and each unit is/has been entirely renovated top to bottom! The units are mirror images of each other. Each features a lovely freshly painted screened front porch, living room with stone wood-burning fireplace, brand new kitchen with solid wood cabinets and a full appliance package. New stacker washer/dryers are located in the hall closets. There are 2 bedrooms in each unit and both full baths have been fully renovated with new flooring, tubs and are freshly painted. Each boasts a lovely front porch freshly painted. The front door leads into the foyer of the living room & the hardwood floors throughout have just been refinished, the walls here are knotty pine, the ceiling is beamed and freshly painted and the focal point is the lovely stone wood-burning fireplace. A doorway off the living room leads to the rear of the home & brand new stacker washer and dryers have been installed in the hall closets & what great planning and oh so convenient! The full baths have been refreshed, painted and each boast a combination tub-shower. The kitchens are EXCEPTIONAL and boast all new abundant 42' slate gray cabinets, new appliances including stove, microwave, dishwasher & refrigerator. The counters are granite and there is an attractive shiplap backsplash. The flooring here is luxury vinyl plank. A door off the kitchen leads to a back porch and steps lead to the rear yard which extends all the way to Sunset Trail & Oh so Private! There are two nice size bedrooms in each & the floors are hardwood & just refinished, the walls are knotty pine and all four have nice size closets. So many of the big ticket items were completed in the past few years including conversion from oil (tanks were always in the basement and have been removed) to gas heat with a separate heater in each unit (at nearly $10,000 EACH installed by Medford Heating), the windows were replaced with tilt-in thermopane and the exterior was recently painted. There are So Many Options with this property-- What a GREAT opportunity for an Investor to rent both units - short term or long term, live in one side & rent out the other (short or long term) to help cover expenses! (Each have separate utilities & each has its own heater & electrical panel so the utilities may be transferred into the Tenant's names). The location is PRIME & because the home is on a 1.24077 acre lot, the home can be expanded as it runs all the way back to Sunset Trail. Serviced by public sewer through Medford Lakes, this home has well water & the well water certification is already completed. The Certificates of Continuing Occupancy have been issued (on both) & this home is ready for a discriminating Buyer to purchase. HURRY! 2023-04-06