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$900,000
Est. payment /mo
5 Beds
3 Baths
7,405 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4017440
Style 3-Three Story
Bedrooms 5
Full Baths 3
Year Built 1921
Annual Tax Amount $13,915
Tax Year 2025
Lot Size 7,405 Sqft
Property Description
Stabilized 3-unit property delivering strong current income with built-in upside. All units leased, generating $4,887.50/month in residential rents plus $230/month from a separately rented garage. $61,410 gross annually. Unit mix: two 2-bedroom/1-bath and one 1-bedroom/1-bath. All units separately metered with tenants paying their own utilities, keeping operating expenses low and cash flow predictable. In-basement laundry, plus assigned parking for each unit. Current rents are below market comparable units in Verona support an additional $200/month per unit at lease expiration, providing a clear path to increased returns without renovation. Lease expirations stagger through 2026, offering stabilized income today with natural rent reset opportunities ahead. Verona's rental demand remains strong, driven by top-rated schools, a walkable downtown, and direct NYC transit access. A clean, income-producing asset in a high-demand market. Perfect for the buy-and-hold investor looking to add a performing property to their portfolio.
Location
State NJ
County Essex
Rooms
Basement Bilco-Style Door, Unfinished
Interior
Heating Gas-Natural
Cooling Window A/C(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Parking Features Detached Garage
Garage Spaces 1.0
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Sewer Public Sewer
Water Public Water
Architectural Style 3-Three Story
Others
Senior Community No
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Listed by CENTURY 21 THE CROSSING
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