283 Hickory St
Orange, NJ 07050
281-283 Hickory Street · Multifamily Property For Sale
·
10 Units
Property Facts
| No. Units | 10 | Lot Size | 0.36 AC |
| Property Type | Multifamily | Building Size | 7,360 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1957 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 7,360 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
Amenities
Site Amenities
- Gas Range
- Walking/Biking Trails
About 283 HICKORY ST , ORANGE, NJ 07050
Marcus & Millichap is pleased to present an opportunity to acquire a 10 unit, brick apartment building located in Orange New Jersey. The unit mix consists of eight one bedroom flats and two townhome style two bedroom apartments. All units have hardwood floors and are heated by radiator. Owner supplies heat and hot water, owner is also responsible for cooking gas and common area electric. Tenants pay separately metered electric and gas. Although a few of the units have been updated, most present a value add opportunity for a new buyer to significantly upgrade rents. Capital expenditures at the property include a new roof, new electric and new windows. This two story, garden style complex is located directly across the street from the 48 acre Orange Park. Public transportation is just up the street at Central Ave and three train stations are within walking distance. YEAR 1 Proforma Cap 8.14%!
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $755.00 | 700 |
| 2+1 | 2 | $1,282 | 880 |
Property Taxes
| Parcel Number | 17-04302-0000-00018 | Improvements Assessment | $700,000 |
| Land Assessment | $500,000 | Total Assessment | $1,200,000 |
Property Taxes
