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492 Conover Trce - Conover Terrace 6,381 Acres of Residential Land Offered at $750,000 in Orange, NJ 07050
INVESTMENT HIGHLIGHTS
- Approved plans for a 12-unit multifamily residential development
- Prime transit-oriented location just minutes from the Orange NJ Transit train station
- Fully entitled and shovel-ready project with no approval risk
EXECUTIVE SUMMARY
The site is located just minutes from the Orange NJ Transit train station, providing direct rail access to Newark, Hoboken, and New York City. This transit-oriented location supports strong and sustained rental demand, making the project highly attractive for developers seeking urban infill multifamily opportunities.
Seller does not have construction drawings; buyer will be responsible for preparation of construction documents
.Total Units: 12 market-rate apartments
3 one-bedroom units
9 two-bedroom units
Parking: 10 on-site parking spaces
Building Features:
Elevator service
Covered first-floor parking
Private balconies
Efficient modern unit layouts
Entitlements & Approvals
Preliminary and Final Site Plan Approval granted
Approved by Superior Court Order
Memorialized by City of Orange Planning Board Resolution dated July 23, 2025
Use permitted within zoning district
Architectural plans prepared by AKT Designs
Engineering and site plans prepared by Dresdner Robin
Construction drawings not included; buyer to prepare construction documents
PROPERTY FACTS
1 LOT AVAILABLE
Lot 1
| Price | $750,000 | Lot Size | 6,381.00 AC |
| Price Per AC | $117.54 |
| Price | $750,000 |
| Price Per AC | $117.54 |
| Lot Size | 6,381.00 AC |
Approximate Lot Size: ±5,700 square feet Conover Terrace Frontage: 50.00 feet Waverly Place Frontage: 67.17 feet Scotland Road Frontage: 104.94 feet Additional Lot Line: 110.59 feet Block / Lot: Block 4901, Lot 1 Zoning: C
DESCRIPTION
492 Conover Terrace, Orange, NJ is a fully approved, shovel-ready multifamily development opportunity located just minutes from the Orange NJ Transit train station. The corner property at Conover Terrace and Scotland Road comes with approved architectural plans for a modern, multi-story residential building featuring elevator service, covered on-site parking, and well-designed two-bedroom, one-bathroom units with private balconies. The project is ready to go with approvals in place, allowing a buyer to immediately commence construction and avoid entitlement risk. The site’s close proximity to the train station provides direct access to Newark, Hoboken, and New York City, making it highly attractive to commuters and supporting strong, long-term rental demand. The surrounding area continues to see significant residential investment and redevelopment, reinforcing the project’s upside and marketability. This offering is ideal for developers seeking a turnkey multifamily project in a supply-constrained Essex County market with excellent transit access. Full plans and supporting documentation are available to qualified buyers.
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492 Conover Trce - Conover Terrace
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