Log In/Sign Up
Your email has been sent.
The Lincoln Peak 641 Lincoln Ave 42 Unit Apartment Building $5,985,000 ($142,500/Unit) 5.79% Cap Rate Orange, NJ 07050
Investment Highlights
- 641 Lincoln is a 42-unit, gut renovated, value-add investment property in Orange, New Jersey
- 641 Lincoln has been managed, renovated, and cared for by high quality ownership for ~10 years
- 60% of housing units in the TMA are renter occupied with 22% of the population being in the key renter age group (18-35)
- Property consists of 1 studio, 39 one-bedroom, 1 two-bedroom, and 1 three-bedroom apartments
- The property offers substantial upside with 21% below market rents providing a $305 average per unit delta to market
- Ideal location in the heart of Essex County just off Scotland Road and only a 10-minute walk from South Orange’s NJ Transit Station – Mountain Station
Executive Summary
641 Lincoln is a 42-unit, gut renovated, value-add investment property in Orange, New Jersey
Property Facts Under Contract
| Price | $5,985,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $142,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.79% | Building Size | 26,585 SF |
| No. Units | 42 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built/Renovated | 1929/2017 |
| Zoning | N/Av - Residential | ||
| Price | $5,985,000 |
| Price Per Unit | $142,500 |
| Sale Type | Investment |
| Cap Rate | 5.79% |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 26,585 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built/Renovated | 1929/2017 |
| Zoning | N/Av - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 39 | - | - |
| Studios | 1 | - | - |
| 2+1 | 1 | - | - |
| 3+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (77)
Property Taxes
| Parcel Number | 17-06301-0000-00012 | Improvements Assessment | $2,665,000 |
| Land Assessment | $2,050,000 | Total Assessment | $4,715,000 |
Property Taxes
Parcel Number
17-06301-0000-00012
Land Assessment
$2,050,000
Improvements Assessment
$2,665,000
Total Assessment
$4,715,000
1 of 26
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
The Lincoln Peak | 641 Lincoln Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.