Property 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. 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. Two sets of staircases up to the 3rd floor. Easy “Use Variance” for legalized 3-family. Financials & details included in the MLS pictures.
Features
: 2 Units, Baseboard - Hotwater
: None, Windowac
: Slab, Walkout, Finished-partially, Bilco-style Door
: Asphalt Shingle
: Vinyl Siding
: Patio, Privacy Fence, Metal Fence
: Walk-in Closet, Smoke Detector, Carbon Monoxide Detector, Fire Extinguisher, Blinds, Wood Floors, Window Treatments, Tile Floors
0
: Electric, Gas-natural, Gas In Street
: Public Water
: Gas
Address Map
Freeman St
47
0
W75° 45' 7.7''
N40° 46' 4.3''
Valley Rd Turn Right Onto Freeman St
MLS Addon
UNITED REAL ESTATE
291893
HAZEL AVE
W ORANGE
: Level Lot
GREGORY
4738
B-1
$0
$0
Multi-Family For Sale
47 Freeman St, West Orange Twp., 07052-5121
9 Bedrooms
3 Bathrooms
2,901 Sqft
$658,888
Listing ID #52868
Basic Details
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : 52868
Ref ID : 3844077
Price : $658,888
Bedrooms : 9
Bathrooms : 3
Square Footage : 2,901 Sqft
Year Built : 1920
Lot Area : 0.07 Acre
Country : US
County : Essex
City : West Orange Twp.
Zipcode : 07052-5121
Days On Market : 4
Status : Active
Lot Size : 29X100
Taxes : $10,427
Tax Year : 2022
Active Days on Market : 0
Agent info
Century 21 Gemini LLC
- Dean Bobo
- 973-769-5235
- 973-696-0805
-
deanbobo@gmail.com
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