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) has six big bedrooms, two full baths, two living rooms and eat-in kitchen. 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. 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 ROI at 7% 2022 cap (not forward cap.) $12,051 Expenses include Tax, Ins, W&S & hallway elec. Zoned B-1. Two sets of staircases up to the 3rd floor. Easy "Use Variance" for legalized 3-family. Financials & details included in the MLS pictures
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9BEDS
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N/AACRES
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3BATHS
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01/2 BATHS
School Ratings & Info
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) has six big bedrooms, two full baths, two living rooms and eat-in kitchen. 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. 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 ROI at 7% 2022 cap (not forward cap.) $12,051 Expenses include Tax, Ins, W&S & hallway elec. Zoned B-1. Two sets of staircases up to the 3rd floor. Easy "Use Variance" for legalized 3-family. Financials & details included in the MLS pictures
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