Unique East Orange Value Add Multifamily Play With No Rent Control! 7%+ Cap
$1,275,000
200-214 North Walnut Street, East Orange, NJ 07017
6.76
Cap Rate
84,453
NOI
Details:
Highlights:
- No Rent Controls
- Month to Month Leases
- Below Market Rents
- Utilities Separately Metered
- Full Basements
- Garages
- Washer Dryer Hookups
- Off Street Parking
- All Certificate of Conformity Inspections Recently Done
Description:
Marcus and Millichap is proud to offer for sale 200-214 North Walnut Street. The property is a 3 building multi-family townhouse cluster of one and two family semi attached homes. There are a total of eight units consisting of 4 semi attached single family triplex homes, all having 4 bedrooms and 2 1/2 baths with garages and full basements. As well as two, semi attached 2 family homes both having two 5 bedroom duplexes with 2 baths and garages. The property is in excellent condition and the current owner has made numerous interior upgrades over the last 2 years. Six out of eight units are currently on month to month leases, giving any potential new buyer flexibility to raise rents immediately or reposition the asset. 3 tenants are currently paying their own water and sewer and those remaining expenses can be passed onto the other units to lower expenses and increase income. THERE IS NO RENT CONTROL ON THIS PROPERTY.
Documents:
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200-214_n_walnut_OM_v_17_6-30-20.pdf
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Location
Gallery
