Great owner user and investor prop. Property is a 7 min walk to Bay Street train station w direct routes to NYC Penn Station. Located in the fastest appreciating area of Montclair. Property is 2.5 stories. 4rm/1 one bed unit on first floor, 4rm/1bed/1FB unit on second floor and two larger beds with FB on third floor. 2nd and 3rd floor are currently used together as a 6rm/3 bed/2 FB unit. Prop is across the street from two new high end mixed use developments...Montclairion 2 and The Vestry. For lease parking spaces are available within 100 ft of the front door. This area is going to completely gentrify. INVESTORS: current GOI is $50,520. OE's are $18,000 yielding a NOI of 32k and a MV of $581,818 on a 5.5 cap. All utilities are separate. There is some functional obsolescence.
Listing Agent: Janine D'Amato Courtesy of: RE/MAX SELECT - Morristown Office phone: (973) 539-6300 The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than New Jersey MLS are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. 2021 New Jersey Multiple Listing Service, Inc. All rights reserved. Updated: 14th June, 2021 10:40 AM