About 41-45 Colby Place
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.
