129 N Walnut St - Apartments FOR SALE


East Orange, NJ 07017
$5,174,000 USD
732-740-7939
129 N Walnut St, East Orange, NJ for Sale
$5,174,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

129 N Walnut St
East Orange, NJ 07017


HIGHLIGHTS

  • 41-Unit Stabilized Multifamily Asset - Four-story pre-war brick building with durable construction, efficient layouts, and strong in-place occupancy p
  • Consistently High Occupancy - The property maintains strong occupancy levels with predictable annual turnover, supporting ongoing rent growth through
  • Clear Value-Add Upside Through Rent Repositioning - In-place rents average approximately $1,262/unit with 15–25% upside through turnover, renovation,
  • Separately Metered Utilities - Tenants pay for individual electric and gas, limiting ownership exposure; landlord covers water, sewer, and common area
  • Transit-Oriented Location - Less than 0.5 miles to both East Orange and Brick Church NJ Transit stations with direct access to Newark and NYC.
  • Supply-Constrained, Improving Submarket - Surrounded by significant redevelopment including The Crossing at Brick Church, Aura 240, and The Modern, re

OVERVIEW

Marcus & Millichap is pleased to present Walnut Garden, a 41-unit, four-story brick apartment building located at 129 N Walnut Street in East Orange, New Jersey. The property offers investors a stabilized, cash-flowing multifamily asset with meaningful upside through operational efficiencies and rent repositioning. Walnut Garden maintains consistently high occupancy with predictable annual turnover, providing stable in-place income while allowing for periodic rent resets upon re-leasing. The property benefits from separately metered utilities and durable pre-war construction. Located less than half a mile from both the East Orange and Brick Church NJ Transit stations, the asset provides direct access to Newark and Manhattan and sits within a rapidly improving, transit-oriented corridor. With nearby large-scale redevelopment and below-market in-place rents, Walnut Garden represents an opportunity to acquire scale, stability, and long-term growth in a supply-constrained Northern New Jersey submarket.

FOR SALE DETAILS

PRICE

$5,174,000 USD

PRICE/SF

$124 USD /SF

# OF UNITS

49

PRICE/UNIT

$105,592

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walnut Garden Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,298 SF

ZONING

R-4, E Orange City

APN/PARCEL ID

05-00363-0000-00008

ASK ABOUT THIS PROPERTY

Chez EiderMarcus & MillichapMore Info
732-740-7939

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

Chez EiderMarcus & MillichapMore Info
732-740-7939

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