94 S Munn AVE new Save Request In-Person Tour Request Virtual Tour
East Orange,NJ 07018
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 44,135 sqft
Price per Sqft $169
MLS Listing ID 2601612R
Year Built 1911
Annual Tax Amount $152,397
Tax Year 2023
Lot Dimensions 123.00 x 140.00
Property Sub-Type Commercial
Source CJMLS API
Property Description
This 6-story, 43-unit apartment building presents a strong value-add investment opportunity in a desirable, high-demand rental market. The property features a mix of unit types, ranging from efficient studios to spacious 3-bedroom apartments, catering to a broad tenant base. Approximately 40% of the units have been tastefully renovated, offering updated interiors with modern finishes. The building is rent de-controlled upon vacancy, providing significant upside potential as units turn over. Roof improvements are currently underway, the roofing project will be completed upon purchase - ensuring long-term building integrity and reduced future maintenance costs. Some off-street parking is available around the property, adding convenience for residents. With strong rental demand, a flexible unit mix, and ongoing capital improvements, this asset is well-positioned for an investor seeking stable income with room for growth.
Location
State NJ
County Essex
Zoning 128600
Interior
Heating Radiant-Hot Water,Radiators-Steam
Cooling None
Flooring Ceramic Tile,Concrete,Tile,Wood
Heat Source Natural Gas
Exterior
Utilities Available Electricity Connected,Natural Gas Connected,Gas In Street,See Remarks
Roof Type Asphalt,Flat
Total Parking Spaces 10
Building
Lot Description Near Public Transit,Near Shopping,Corner Lot
Story 5
Sewer Public Sewer
Water Public
Others
Senior Community no
Tax ID 0500217000000020
Energy Description Natural Gas