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481 William St 26 Unit Apartment Building $4,299,000 ($165,346/Unit) 6.80% Cap Rate East Orange, NJ 07017
Investment Highlights
- Has much stronger potential. Building in great condition with lots of updates. Continuous surrounding redevelopments.
Executive Summary
This superb investment FOUR story brick 26 UNIT building offering 15 one bedroom units and 11 two bedroom units is nestled in prime location, surrounded by many new constructions as large redevelopments are happening very quickly in this vicinity. Property is well maintained. Boiler and hot water heater under 5 years old. Elevator 2006, roof redone multiple times since ownership, last update 2018. Most rentals are below market value and have much more potential. 4 units are in process of renovation, will be rented during contract at new market value. ALL units have been renovated in full 20 years ago, and many were renovated prior to getting re-rented. All units are in great condition. Super on premises. Security cameras are all in place and included in the sale. Located few mins from the train station and nestled between the Garden State Parkway and Route 280, super convenient! Most rentals are below market value. The current income is great, and the potential income is hard to pass! Call for details.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,299,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $165,346 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.80% | Building Size | 20,834 SF |
| Gross Rent Multiplier | 8.69 | Average Occupancy | 85% |
| No. Units | 26 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1927/2006 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | 4C | ||
| Price | $4,299,000 |
| Price Per Unit | $165,346 |
| Sale Type | Investment |
| Cap Rate | 6.80% |
| Gross Rent Multiplier | 8.69 |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 20,834 SF |
| Average Occupancy | 85% |
| No. Stories | 4 |
| Year Built/Renovated | 1927/2006 |
| Opportunity Zone |
Yes |
| Zoning | 4C |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Laundry Facilities
- Security System
- Elevator
- Maintenance on site
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 15 | - | - |
| 2+1 | 11 | - | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 05-00540-01-00026 | Total Assessment | $2,507,800 |
| Land Assessment | $676,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,831,800 | Tax Year | 2025 |
Property Taxes
Parcel Number
05-00540-01-00026
Land Assessment
$676,000
Improvements Assessment
$1,831,800
Total Assessment
$2,507,800
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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481 William St
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