5.49% Cap Rate 12-Unit Portfolio Portefeuille de immeuble residentiel à vendre 2 biens 3 214 449 € Montclair, NJ

Exceptional Investment Opportunity in the Heart of Montclair.

Don’t miss this rare chance to acquire a fully turnkey 12-unit portfolio, featuring two charming pre-war six-unit buildings just one block from Bay Street Train Station. Ideally located in one of Montclair’s most desirable neighborhoods, this income-generating asset offers immediate value with significant upside potential.

Currently operating with a 23.08% rental upside, the buildings consist of three spacious 2-bedroom units and nine large 1-bedroom units, each with its own designated parking space in private on-site lots. Nine out of twelve units have been fully renovated, and in-unit washer/dryers have been installed in 50% of the apartments, adding to tenant appeal and rental value.

All utilities are separately metered, and tenants are responsible for gas, electric, water, and sewer, minimizing operating expenses. Ownership has proactively replaced 100% of the water heaters and boilers, ensuring operational efficiency and reduced capital expenditures for the new owner.

Rents have been kept below market, providing the next investor the opportunity to capture upside through natural turnover. Additionally, the basement at 70 Pine Street offers dedicated storage space for each unit, a rare amenity in multifamily properties.

Located just blocks from Bay Street Station with Midtown Direct service and adjacent to the newly revitalized Glenfield Park, this portfolio is perfectly positioned to benefit from strong tenant demand and continued neighborhood growth.