129 Maple Ave - Apartments FOR SALE


Montclair, NJ 07042
$2,749,999 USD
862-621-5890
129 Maple Ave, Montclair, NJ for Sale
$2,749,999 USD
Apartments - FOR SALE
1/43
null | 6.88% Cap Rate

129 Maple Ave
Montclair, NJ 07042


HIGHLIGHTS

  • 129 Maple Avenue presents a freestanding, corner building, home to six residential apartments and one commercial unit, leased to a hair salon.
  • In a desirable location of Montclair, NJ, enabling easy commutes and access to the trains station.
  • The remaining residential units are all in turnkey condition and are majority occupied.
  • There are dedicated parking spaces, off-street parking, and frontage along Maple Avenue and Monroe Place.

OVERVIEW

Don't miss this rare investment opportunity in the heart of Montclair, NJ. Fully renovated in 2024, this turnkey seven-unit, mixed-use property on Maple Avenue features six residential apartments and one commercial unit, currently leased to a well-established hair salon. The residential mix includes five spacious two-bedroom units and one studio, each with a designated parking space in a brand-new, exclusive blacktop lot. The building has been completely overhauled with all-new electrical and plumbing systems, brand-new tankless water heaters for every unit, a new roof, and a renovated common area. Four of the six apartments feature brand-new HVAC systems. The basement includes dedicated storage for each unit and individual washers/dryers for tenant convenience. The building is stabilized with market rents in six of the seven units, with the final unit offering strong upside and easy lease-up potential in this high-demand rental market. Ideally located just blocks from Bay Street Station (with Midtown Direct service) and the newly redeveloped Glenfield Park, this is a prime, income-generating asset in one of Montclair's most sought-after neighborhoods.

FOR SALE DETAILS

PRICE

$2,749,999 USD

PRICE/SF

$501 USD /SF

# OF UNITS

7

PRICE/UNIT

$392,857

CAP RATE

6.88%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1914

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

R-3

APN/PARCEL ID

13-04106-0000-00001

ASK ABOUT THIS PROPERTY

David ArteagaKeller Williams Prosperity RealtyMore Info
862-621-5890

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David ArteagaKeller Williams Prosperity RealtyMore Info
862-621-5890

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.