227 N Center St Open House Save Request In-Person Tour Request Virtual Tour
City Of Orange Twp.,NJ 07050
OPEN HOUSE
Sat May 24, 2:00pm - 4:00pm
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 19,998 sqft
Price per Sqft $31
Subdivision Dodd Town Upper Orange
MLS Listing ID 3963809
Style 2-Two Story
Bedrooms 5
Full Baths 4
Year Built 1926
Annual Tax Amount $19,700
Tax Year 2024
Lot Size 4,356 Sqft
Property Description
Fully renovated two-family home in Orange, NJ, offers a prime investment or owner-occupied opportunity with rental income potential. The property features 5 bedrooms, 3 bathrooms, a finished basement with a full bathroom, and a spacious garden ideal for entertaining and off-street parking. The first-floor vacant unit includes 2 beds, a modern kitchen with stainless steel appliances, granite worktops, wooden floors, an alarm system, and an open layout. The second-floor unit, currently tenant-occupied, has 3 bedrooms and is rented for $2,350, offering immediate rental income. Both units have central air and forced heat. Shared washer/dryer hookups are located in the basement along with storage space. Conveniently located near shopping, parks, schools, and public transportation with easy access to NYC. The seller may consider concessions for strong offers over the list price to assist with closing costs. Seller financing may be considered for offers exceeding $700K with a minimum 25% down payment, no exceptions, and a maximum 24-month term. Potential rental income ranges from $5,900 to $7,000 per month, making it a compelling investment for cash flow. Buyers should be pre-qualified for $19,700 in annual property taxes. The previous buyer was unable to close due to a change in financial circumstances and was under contract for $680K, presenting a renewed opportunity for serious buyers to secure a turnkey investment. Don't miss out on this chance.
Location
State NJ
County Essex
Zoning R2
Rooms
Basement Finished, French Drain, Walkout
Interior
Interior Features Carbon Monoxide Detector, Fire Extinguisher, Security System, Smoke Detector, Vinyl-Linoleum Floors, Window Treatments, Wood Floors
Heating Gas-Natural
Cooling 2 Units
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Parking Features On-Street Parking
Utilities Available Gas In Street, Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Sewer Public Sewer
Water Public Water
Architectural Style 2-Two Story
Schools
Elementary Schools Cleveland
Middle Schools Lincoln
High Schools Orange
Others
Senior Community No