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61-63 Chestnut St 6 Unit Apartment Building $1,250,000 ($208,333/Unit) 7.22% Cap Rate West Orange, NJ 07052



Investment Highlights
- Access & Connectivity
- Off-Street Parking
- Quality of Life Amenities
- Area Amenities & Demand Drivers
- Strong Rental Demographics & Demand
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 61-63 Chestnut Street in West Orange, NJ (the “Property”). The three-story building contains five (5) 2-Bedroom/1-Bathroom units and one (1) 1-Bedroom/1-Bathroom unit with 6,615 square feet of gross living area. The Property is situated upon a 0.11-acre parcel and features four (4) off-street parking spaces. 61-63 Chestnut Street is strategically located in the heart of West Orange, offering residents convenient access to the township’s primary commercial corridors, employment centers, and lifestyle amenities. The property benefits from excellent regional connectivity via nearby Interstate 280, Route 10, and the Garden State Parkway, providing efficient access throughout Northern New Jersey as well as direct connections to Newark and New York City. The surrounding neighborhood combines established residential character with convenient access to shopping, dining, healthcare, and recreational amenities, supporting strong renter demand within one of Northern New Jersey’s most desirable suburban markets.
Property Facts
| Price | $1,250,000 | Building Class | C |
| Price Per Unit | $208,333 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 6,615 SF |
| Cap Rate | 7.22% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment | Parking Ratio | 0.6/1,000 SF |
| Zoning | B-1 | ||
| Price | $1,250,000 |
| Price Per Unit | $208,333 |
| Sale Type | Investment |
| Cap Rate | 7.22% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 6,615 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1915 |
| Parking Ratio | 0.6/1,000 SF |
| Zoning | B-1 |
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Very walkable
80/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
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61-63 Chestnut St
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