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390 Orange Rd 5 Unit Apartment Building $1,170,000 ($234,000/Unit) 5.93% Cap Rate Montclair, NJ 07042
Executive Summary
Tremendous investment opportunity. Legal 5-unit multi family. The five units are comprised of three 1 bedroom units, a 2 bedroom apartment & a 3-bedroom duplex. The apartments are separately metered for gas, electric and heat. Apartment #4 & #5 has been totally remodeled and updated and can serve as the model unit for future renovations. Welcoming front entry halls and staircase have been beautifully redone including intercom & mailboxes. Complete electrical upgrade to the whole building in 2022. Separate entrance to basement. Plenty of onsite parking. Large corner property with plenty of upside.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$101,508
|
$26.29
|
| Other Income |
$263
|
$0.07
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$101,771
|
$26.36
|
| Taxes |
$18,098
|
$4.69
|
| Operating Expenses |
$14,248
|
$3.69
|
| Total Expenses |
$32,346
|
$8.38
|
| Net Operating Income |
$69,425
|
$17.98
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $101,508 |
| Annual Per SF | $26.29 |
| Other Income | |
|---|---|
| Annual | $263 |
| Annual Per SF | $0.07 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $101,771 |
| Annual Per SF | $26.36 |
| Taxes | |
|---|---|
| Annual | $18,098 |
| Annual Per SF | $4.69 |
| Operating Expenses | |
|---|---|
| Annual | $14,248 |
| Annual Per SF | $3.69 |
| Total Expenses | |
|---|---|
| Annual | $32,346 |
| Annual Per SF | $8.38 |
| Net Operating Income | |
|---|---|
| Annual | $69,425 |
| Annual Per SF | $17.98 |
Property Facts
| Price | $1,170,000 | Apartment Style | Low-Rise |
| Price Per Unit | $234,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Cap Rate | 5.93% | Building Size | 3,861 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1884 |
| Property Subtype | Apartment | ||
| Zoning | R1 | ||
| Price | $1,170,000 |
| Price Per Unit | $234,000 |
| Sale Type | Investment |
| Cap Rate | 5.93% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.48 AC |
| Building Size | 3,861 SF |
| No. Stories | 2 |
| Year Built | 1884 |
| Zoning | R1 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 13-02904-0000-00042 | Total Assessment | $500,000 |
| Land Assessment | $225,000 | Annual Taxes | $18,098 ($4.69/SF) |
| Improvements Assessment | $275,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
13-02904-0000-00042
Land Assessment
$225,000
Improvements Assessment
$275,000
Total Assessment
$500,000
Annual Taxes
$18,098 ($4.69/SF)
Tax Year
2025
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390 Orange Rd