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
Property Sub-Type Commercial
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
Exterior
Utilities Available Electricity Connected,Natural Gas Connected,Gas In Street,See Remarks
Roof Type Asphalt,Flat
Building
Lot Description Near Public Transit,Near Shopping,Corner Lot
Story 5
Sewer Public Sewer
Water Public