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136 Walnut St

Montclair Twp., NJ 07042
  • $1,800,000
  • STATUS: Active
  • ON SITE: 190 Days
  • MLS #: 3878159
UPDATED: 56 min ago
$1,800,000
  • 0
    BEDS
  • 0.28
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,348
    SQFT
  • $538
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1966
County:

School Ratings & Info

Description

Presenting the Walnut Street Manor, a legacy multifamily property in the heart of downtown Montclair. Available for the first time in 50+ years, this 8-unit apartment building can become the anchor of your growing real estate portfolio. With 4 different floor plans, this property offers 4 one bedroom units, and 4 studios, with shared coin-op laundry, on site parking, and a stellar location. A majority of units have been renovated and the roof is only 7 years old. 3 units remain, creating a great opportunity for future owners to add value to the property. Tenants pay for electricity for their stoves, lights and in-unit Air Conditioning. Owner pays for heat, hot water and internet. Building is well equipped with security camera system, and remote accessible front door entry system. Laundry is a smart system with Phone App capabilities. Property is 100' by 120' or .28 acres with 12 parking spaces, a beautiful front lawn, plus a garbage and maintenance shed in the back. The parking lot has pre-existing walls for a garage, which could be easily re-built. Long time tenants, very low vacancy, and MAJOR upside over time. Pro-Forma available upon request.

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Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dekanski Home Selling Team :: RE/MAX 1st Advantage. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Dekanski Home Selling Team :: RE/MAX 1st Advantage are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-06-21T06:47:33.48.
www.gardenstatehomesearcher.com/homes/146040323
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136 Walnut St Montclair Twp., NJ 07042

  • Price: $1,800,000
  • Status: Active
  • On Site: 190 Days
  • Updated: 56 min ago
  • MLS #: 3878159
0
Beds
0
Baths
0
½ Baths
0.28
Acres
3,348
SQFT
$538
$/SQFT
1966
Built
Neighborhood:
Walnut Street
County:
Essex
Area:
Montclair Twp.
Property Description
Presenting the Walnut Street Manor, a legacy multifamily property in the heart of downtown Montclair. Available for the first time in 50+ years, this 8-unit apartment building can become the anchor of your growing real estate portfolio. With 4 different floor plans, this property offers 4 one bedroom units, and 4 studios, with shared coin-op laundry, on site parking, and a stellar location. A majority of units have been renovated and the roof is only 7 years old. 3 units remain, creating a great opportunity for future owners to add value to the property. Tenants pay for electricity for their stoves, lights and in-unit Air Conditioning. Owner pays for heat, hot water and internet. Building is well equipped with security camera system, and remote accessible front door entry system. Laundry is a smart system with Phone App capabilities. Property is 100' by 120' or .28 acres with 12 parking spaces, a beautiful front lawn, plus a garbage and maintenance shed in the back. The parking lot has pre-existing walls for a garage, which could be easily re-built. Long time tenants, very low vacancy, and MAJOR upside over time. Pro-Forma available upon request.
Exterior Features

Approximate Lot Size 100X120 IRR Available Parking Spaces 12 Construction Brick/BlockWood Exterior Description Brick/BlockSee Remarks Location Business DistrictResidential Area Lot Description Level Lot Number Of Bays 0 Number Of Docks 0 Parking Driveway Description AssignedBlacktopDriveway-ExclusiveOff-Street Parking Roof Description Asphalt ShingleFlat

Interior Features

Basement Yes Basement Description FinishedFullWalkout Cooling 4+ UnitsWall A/C Unit(s) Equipment Available Burglar AlarmIntercom Floors ConcreteLaminateTileVinyl-LinoleumWood Heating 1 UnitBaseboard - HotwaterMulti-Zone Max Ceiling Height 0 Max Door Height 0 Number Of Doors 0 Number Of Lavatories 8 Office Sq Ft 0

Property Features

Available Negotiable DEPStatus Unknown Expenses Include ElectricityGas/OilInsuranceMaintenance - ExteriorMaintenance - InteriorSnow RemovalTaxesWater/Sewer For Sale Or Lease For Sale Free Rent No Fuel Type ElectricGas-Natural Gross Operating Income 121398 Net Operating Income 66854 Owner Pays HeatHot WaterMaintenance-Common Area Permitted Use Residential Pre Rental Requirements 0 Primary Property Type Apartment Complex Prior Use Residential Property Type Apartment Complex Sale Includes Building & Land Sewer Public Sewer Suite Number N/A Tax Amount 31900 Tax Rate Amount 3.288 Tax Rate Year 2022 Tax Year 2023 Tenant Pays Electric Total Operating Expense 54543 Utilities ElectricGas In StreetGas-Natural Utilities Paid By Other Water Public Water Year Built Description ApproximateRenovated Zoning R2

Listing information © 2024 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of : 973-618-6368.


Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dekanski Home Selling Team :: RE/MAX 1st Advantage. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Dekanski Home Selling Team :: RE/MAX 1st Advantage are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-06-21T06:47:33.48.
 
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The Dekanski Home Selling Team :: RE/MAX 1st Advantage
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Colonia NJ, 07067