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$ 1,450,000
Est. payment | /mo
14 Beds
4 Baths
7,405 Sqft Lot
$ 1,450,000
Est. payment | /mo
14 Beds
4 Baths
7,405 Sqft Lot
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3945738
Style 3-Three Story
Bedrooms 14
Full Baths 4
Year Built 1854
Annual Tax Amount $21,730
Tax Year 2024
Lot Size 7,405 Sqft
Property Description
Rare Legal Boarding House in Prime South Orange - Turnkey Income Property! An exceptional investment opportunity awaits with this rare, legal boarding house, a unique designation that ensures consistent monthly income ($14,000/month with 3% increase in June) and offers flexibility to rent to individuals or groups.The 1st floor Unit 1 features 4 spacious bedrooms, a large living/dining area, and an eat-in kitchen. A private entrance makes this space ideal for groups seeking a secure and comfortable living arrangement. A separate, 1st floor studio apartment with kitchenette, full bath, and private entrance offers another excellent rental opportunity. The 2nd and 3rd floors (considered Unit 3). contain 9 individually rented bedrooms, fully occupied, with several long-term tenants and no vacancies during ownership ensuring a reliable income stream. Additional on-property amenities include shared laundry facilities and off-street parking, a highly sought-after feature in this desirable location.Situated just down the block from South Orange Village's vibrant shops and restaurants, a short distance from Seton Hall University, and adjacent to the direct train to NYC, this property is perfectly positioned for high tenant demand. Whether catering to students, commuters, or professionals, this income-generating property is a rare and valuable find in one of New Jersey's most desirable rental markets. CAN BE SOLD AS A PACKAGE with 122 MILLIGAN (COMING SOON BUT CAN BE SHOWN IMMEDIATELY)
Location
State NJ
County Essex
Rooms
Basement Unfinished, Walkout
Interior
Interior Features Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector
Heating Gas-Natural
Cooling Window A/C(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Sewer Public Sewer
Water Public Water
Architectural Style 3-Three Story
Schools
High Schools Columbia
Others
Senior Community No
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Listed by COLDWELL BANKER REALTY