Description
Investor's dream! Own this two-family house with great cash flow & minimal maintenance/expenses. The 1st floor (Unit 1) offers 3 big bedrooms, living room, eat-in kitchen and one full bath. The 2nd & 3rd floor (Unit 2) is accessible with two set of staircases. Unit 2 has six big bedrooms, two full baths, two living rooms and eat-in kitchen. Two sets of washer and dryer hookup and two big tenant storage rooms in basement. Landlord also has a big storage room in basement. Tenants pay separate gas and electricity utilities. Conveniently located walking distance to Highland Avenue train station by the Valley Arts re-developed area. 10 min to Hoboken and another 25 min to NYC Penn. Newly renovated Unit 1 to be delivered vacant or rented (just renovated. MLS listed for rent $2,580/m). Unit 2 is renting month-to-month at $2,700/m (low, expiring 11/30/23.) Property was "rebuilt" just before year 2000. New roofs and furnaces in 2021 & 2022. Great West Orange schools. Great return on investment (ROI) at 7% 2022 cap rate (not forward cap.) $12,051 Expenses include Tax, Insurance, water & sewer & hallway electric. Zoned B-1. Easy "Use Variance" for legalized 3-family. Financials & details included in the MLS pictures.
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9BEDS
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0.07ACRES
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3BATHS
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01/2 BATHS
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2,901SQFT
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$227$/SQFT
School Information
Description
Investor's dream! Own this two-family house with great cash flow & minimal maintenance/expenses. The 1st floor (Unit 1) offers 3 big bedrooms, living room, eat-in kitchen and one full bath. The 2nd & 3rd floor (Unit 2) is accessible with two set of staircases. Unit 2 has six big bedrooms, two full baths, two living rooms and eat-in kitchen. Two sets of washer and dryer hookup and two big tenant storage rooms in basement. Landlord also has a big storage room in basement. Tenants pay separate gas and electricity utilities. Conveniently located walking distance to Highland Avenue train station by the Valley Arts re-developed area. 10 min to Hoboken and another 25 min to NYC Penn. Newly renovated Unit 1 to be delivered vacant or rented (just renovated. MLS listed for rent $2,580/m). Unit 2 is renting month-to-month at $2,700/m (low, expiring 11/30/23.) Property was "rebuilt" just before year 2000. New roofs and furnaces in 2021 & 2022. Great West Orange schools. Great return on investment (ROI) at 7% 2022 cap rate (not forward cap.) $12,051 Expenses include Tax, Insurance, water & sewer & hallway electric. Zoned B-1. Easy "Use Variance" for legalized 3-family. Financials & details included in the MLS pictures.
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Data last updated 2023-10-04T11:47:02.213.