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$800,000
Est. payment /mo
4 Beds
2 Baths
8,712 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 4017437
Style Duplex-Side by Side
Bedrooms 4
Full Baths 2
Year Built 1911
Annual Tax Amount $12,133
Tax Year 2025
Lot Size 8,712 Sqft
Property Description
Rarely available side-by-side duplex delivering immediate income with significant upside potential. 222-224 Claremont Avenue presents a true buy-and-hold opportunity in one of Essex County's most consistently strong rental markets. Both units are currently occupied under lease through May 31, 2026, generating a combined $4,066/month ($48,792 annually) with room to grow. At lease expiration, market rents for comparable 2-bedroom units in Verona support $2,300/month per unit, pushing gross annual income to $55,200 and meaningfully improving returns for the next owner. Each unit offers a well-proportioned 2-bedroom, 1-bath layout with separate utilities, keeping operating expenses predictable and landlord exposure low. A detached 3-car garage adds a valuable additional income stream or tenant amenity, and in-basement washer/dryer provides added convenience that supports tenant retention. Private driveways for each unit further enhance the property's appeal to quality, long-term renters.Verona continues to attract strong rental demand driven by its top-rated schools, walkable downtown, and easy access to NYC via direct bus and rail connections. Leases rolling simultaneously in May 2026, an investor steps in with stabilized income today and a clean opportunity to reset both rents to market at turnover.
Location
State NJ
County Essex
Rooms
Basement Unfinished
Interior
Heating Electric, Gas-Natural
Cooling Window A/C(s)
Heat Source Electric, Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Parking Features Detached Garage
Garage Spaces 3.0
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Sewer Public Sewer
Water Public Water
Architectural Style Duplex-Side by Side
Others
Senior Community No
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Listed by CENTURY 21 THE CROSSING
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