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$ 1,290,000
Est. payment | /mo
3,324 SqFt
$ 1,290,000
Est. payment | /mo
3,324 SqFt
Key Details
Property Type Multi-Family, Condo
Listing Status Active
Purchase Type For Sale
Square Footage 3,324 sqft
Price per Sqft $388
MLS Listing ID 3947367
Year Built 1892
Annual Tax Amount $16,331
Tax Year 2024
Property Description
Introducing a premier commercial opportunity Class A rooming house that consist of three studio apartments and nine private single occupancy rooms in charming Montclair, NJ! This licensed rooming house, has been updated in 2021, boasts twelve efficiently designed units and ample off-street parking for up to six vehicles. Each space has been thoughtfully updated, featuring new vinyl flooring and a fresh coat of paint in selected rooms. Common areas shine with new Sheetrock, emergency lighting, and clear exit signage, ensuring a safe and welcoming environment for all occupants.Residents benefit tremendously from on-site conveniences like a pair of coin-operated washers and dryers in the basement simplifying laundry day in a snap! The exterior isn't left behind, with its durable vinyl siding and newly installed roof.Location is prime with proximity to key community sweet spots. The nearby Walnut Street train station and Bloomfield Ave bus stop provide efficient transit options for hassle-free commuting or leisure travels. Perfect for investors, this property is a true income powerhouse without the worry of rent control expected to generate gross income of $130,000 or more with a net income of $83,000. So if you're looking for not just a property, but a fruitful venture, this licensed rooming house may be it.
Location
State NJ
County Essex
Zoning R-2
Rooms
Basement Full, Storage, Walkout
Interior
Heating Gas-Natural
Cooling Window A/C(s)
Flooring Carpeting, Laminate, Tile
Equipment Appliances, Exhaust System, Fire Alarm, Security System, See Remarks, Smoke Detector, Sprinkler System
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Garage Spaces 6.0
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by RE/MAX SELECT
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