Description
Exceptional opportunity to own a fully occupied, legal 3-family in the highly desirable Township of Maplewood. This income-producing property offers three spacious apartments with immediate rental income and long-term investment potential. Current gross rental income is $85,800 annually with seller-reported recurring operating expenses of approximately $25,286 annually, resulting in an estimated Net Operating Income (NOI) of approximately $60,514 and an estimated 7.71% cap rate at the $785,000 asking price. Unit mix consists of two 3-bedroom, 1-bath apartments and one 2-bedroom, 1-bath apartment. Conveniently located near Maplewood Village, NJ Transit train and bus service, Maplecrest Park, shopping, dining, schools and major highways. Property is fully occupied. Financial information is seller-reported and should be independently verified by purchasers. Showings by confirmed appointment only with a minimum of 24-hour notice. Please do not disturb tenants.
Details
| MLS # | NJES2000372 |
|---|---|
| Listing Type | For Sale |
| Building Name | NONE AVAILABLE |
| Sub-Type | Resale |
| Status | Active Under Contract-bright |
| Year | 1927 |
| Days On Site | 35 |
| Listing Provided By | Keller Williams Village Square Realty | Javier Rivera |
Features
| Garage | 2 |
|---|---|
| Basement | Y |
| Story(s) | 3 |
| Units | 3 |
| Zoning | R-3 |
| Acreage | 0.13 |
| Property View | Street |
Interior
| Rooms Total | 14 |
|---|---|
| Cooling | Ceiling Fan(s), Window Unit(s) |
| Heating Yes / No | Yes |
| Heating | Baseboard - Hot Water, Radiant, Radiator, Steam |
| Appliances | Oven/Range - Gas, Refrigerator, Washer, Dryer, Water Heater |
Exterior
| Exterior Features | Roof Deck |
|---|---|
| Roof | Shingle |
| Construction Materials | Asbestos |
| Foundation Details | Brick/Mortar |
Parking
| Garage Yes / No | Yes |
|---|
Taxes
| Tax Annual Amount | 15124 |
|---|
Area Information
| State | NJ |
|---|---|
| County | ESSEX NJ |
| City | MAPLEWOOD |
| Zip Code | 07040 |
| Area | Maplewood Twp (20711) |
| Community Name | NOT AVAILABLE |
| School District | SOUTH ORANGE-MAPLEWOOD SCHOOLS |
| Listing VS Median (in NOT AVAILABLE) | |
Price: $785,000 low | high Med: $629,900 On site: 35 low | high Med: 117 | |
Market Activity 07040
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Learn More About This Property
| State | NJ |
|---|---|
| County | ESSEX NJ |
| City | MAPLEWOOD |
| Zip Code | 07040 |
| Area | Maplewood Twp (20711) |
| Community Name | NOT AVAILABLE |
| School District | SOUTH ORANGE-MAPLEWOOD SCHOOLS |
| Listing VS Median (in NOT AVAILABLE) | |
Price: $785,000 low | high Med: $629,900 On site: 35 low | high Med: 117 | |