West Orange Redevelopment 259 Main St 23 Unit Apartment Building $2,500,000 ($108,696/Unit) West Orange, NJ 07052
INVESTMENT HIGHLIGHTS
- Approved for redevelopment into a total of 15 residential units and 5 commercial units
- The property includes a large parking lot
- Located with walking distance of NJ Transit bus stops. Easy access to NJ Transit train stations, the Garden State Parkway and Route 280.
- Excellent corner location in the heart of West Orange Main Street
- Existing tenants will remain in place through development
EXECUTIVE SUMMARY
***PRICE REDUCED***The property consists of 3 separate buildings: Two mixed-use buildings with 3 commercial units and 5 residential units, plus a 3-room hotel/rooming house. The rooming house is currently vacant and approved for redevelopment into 2,500 SF retail and 11 residential units. The property also includes a 4,500 SF parking lot.
PROPERTY FACTS
| Price | $2,500,000 |
| Price Per Unit | $108,696 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 15,106 SF |
| No. Stories | 4 |
| Year Built | 1891 |
| Zoning | B-1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Tile Floors
- Kitchen
- Hardwood Floors
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
1 of 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 22-00116-0000-00053 | Improvements Assessment | $449,200 |
| Land Assessment | $100,800 | Total Assessment | $550,000 |
