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.
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Listing Snapshot
Price
$785,000
Days On Site
41 Days
Bedrooms
7
Inside Area (SqFt)
N/A
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.13 Acres
Year Built
1927
MLS® Number
NJES2000372
Status
Active Under Contract
Property Tax
$15,124
HOA/Condo/Coop Fees
N/A
Sq Ft Source
Estimated
Friends & Family
React
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Recent Activity
2 weeks ago
Status changed to Active Under Contract
2 weeks ago
Listing updated with changes from the MLS®
a month ago
Listing first seen on site
General Features
Acres
0.13
Foundation
Brick/Mortar
Garage
Yes
Garage Spaces
2
Number Of Stories
3
Parking
GarageDrivewayDetached
Parking Spaces
8
Property Sub Type
Multi Family
Sewer
Public Sewer
Special Circumstances
Standard
Style
Colonial
Utilities
Cable Available
Water Source
Public
Zoning
R-3
Interior Features
Appliances
Gas RangeGas OvenGas Water HeaterRefrigeratorWasherDryerWater Heater
Basement
Unfinished
Cooling
Ceiling Fan(s)Window Unit(s)
Electric
100 Amp Service
Flooring
Hardwood
Furnished?
None
Heating
Natural GasRadiantSteamBaseboard
Laundry Features
In Basement
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Exterior Features
Construction Details
Asbestos
Patio And Porch
Patio
Pool Features
None
Roof
Shingle
View
Street
Waterview
Street
Community Features
MLS Area
Maplewood Twp (20711)
School District
SOUTH ORANGE-MAPLEWOOD SCHOOLS
Schools
School District
SOUTH ORANGE-MAPLEWOOD SCHOOLS
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing courtesy of Keller Williams Village Square Realty
