481 William St - Apartments FOR SALE


East Orange, NJ 07017
$4,299,000 USD
917-642-0800
481 William St, East Orange, NJ for Sale
$4,299,000 USD
Apartments - FOR SALE
1/30
null | 6.8% Cap Rate

481 William St
East Orange, NJ 07017


HIGHLIGHTS

  • Has much stronger potential. Building in great condition with lots of updates. Continuous surrounding redevelopments.

OVERVIEW

This superb investment FOUR story brick 26 UNIT building offering 15 one bedroom units and 11 two bedroom units is nestled in prime location, surrounded by many new constructions as large redevelopments are happening very quickly in this vicinity. Property is well maintained. Boiler and hot water heater under 5 years old. Elevator 2006, roof redone multiple times since ownership, last update 2018. Most rentals are below market value and have much more potential. 4 units are in process of renovation, will be rented during contract at new market value. ALL units have been renovated in full 20 years ago, and many were renovated prior to getting re-rented. All units are in great condition. Super on premises. Security cameras are all in place and included in the sale. Located few mins from the train station and nestled between the Garden State Parkway and Route 280, super convenient! Most rentals are below market value. The current income is great, and the potential income is hard to pass! Call for details.

FOR SALE DETAILS

PRICE

$4,299,000 USD

PRICE/SF

$206 USD /SF

# OF UNITS

26

PRICE/UNIT

$165,346

CAP RATE

6.8%

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,194 SF

ZONING

4C

APN/PARCEL ID

05-00540-01-00026

ASK ABOUT THIS PROPERTY

Anthony NaporleeWorth Property GroupMore Info
917-642-0800

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Anthony NaporleeWorth Property GroupMore Info
917-642-0800

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