Multifamily
Walnut Garden - East Orange NJ
129 N Walnut St, East Orange, NJ 07017
Listing Price: $5,174,000
Investment Overview
Marcus & Millichap is pleased to present Walnut Garden, a 41-unit, four-story brick apartment building located at 129 N. Walnut Street in East Orange, New Jersey. The property offers investors stable in-place cash flow with a clear opportunity to increase income through rent repositioning and operational improvements.
Walnut Garden maintains consistently high occupancy with predictable annual turnover, allowing for periodic rent resets through natural lease rollover while preserving income stability. The property benefits from separately metered electric and gas utilities, reducing ownership utility exposure.
Located less than one-half mile from both the East Orange and Brick Church NJ Transit stations, the property offers convenient access to Newark and New York City and is positioned within an improving transit-oriented corridor. Combined with below-market in-place rents and a limited supply of comparable institutional-quality assets, Walnut Garden presents an attractive long-term investment opportunity in Northern New Jersey.
Walnut Garden - East Orange NJ
Investment Highlights
- 41-Unit Brick Multifamily Asset Four-story brick apartment building with consistently high occupancy, efficient layouts, and stable in-place cash flow.
- Consistently High Occupancy The property maintains strong occupancy levels with predictable annual turnover, supporting ongoing rent growth through re-leasing at market levels.
- Clear Value-Add Upside Through Rent Repositioning In-place rents average approximately $1,262/unit with 15–25% upside through turnover, renovation, and improved management.
- Separately Metered Utilities Tenants pay for individual electric and gas, limiting ownership exposure; landlord covers water, sewer, and common areas.
- Transit-Oriented Location Less than 0.5 miles to both East Orange and Brick Church NJ Transit stations with direct access to Newark and NYC.
- Redevelopment-Focused Northern New Jersey Submarket Nearby redevelopment continues to enhance the neighborhood while new multifamily supply remains limited.
- Attractive Basis 41 units provide scale rarely available in East Orange, where most walk-ups range between 20–35 units.
- Strong Workforce Housing Demand Convenient access to major employment centers including University Hospital, Rutgers Newark, Clara Maass Medical Center, and Downtown Newark.
Exclusively Listed By
Financing By
Listing Price: $5,174,000
Investment Highlights
- 41-Unit Brick Multifamily Asset Four-story brick apartment building with consistently high occupancy, efficient layouts, and stable in-place cash flow.
- Consistently High Occupancy The property maintains strong occupancy levels with predictable annual turnover, supporting ongoing rent growth through re-leasing at market levels.
- Clear Value-Add Upside Through Rent Repositioning In-place rents average approximately $1,262/unit with 15–25% upside through turnover, renovation, and improved management.
- Separately Metered Utilities Tenants pay for individual electric and gas, limiting ownership exposure; landlord covers water, sewer, and common areas.
- Transit-Oriented Location Less than 0.5 miles to both East Orange and Brick Church NJ Transit stations with direct access to Newark and NYC.
- Redevelopment-Focused Northern New Jersey Submarket Nearby redevelopment continues to enhance the neighborhood while new multifamily supply remains limited.
- Attractive Basis 41 units provide scale rarely available in East Orange, where most walk-ups range between 20–35 units.
- Strong Workforce Housing Demand Convenient access to major employment centers including University Hospital, Rutgers Newark, Clara Maass Medical Center, and Downtown Newark.
Investment Overview
Marcus & Millichap is pleased to present Walnut Garden, a 41-unit, four-story brick apartment building located at 129 N. Walnut Street in East Orange, New Jersey. The property offers investors stable in-place cash flow with a clear opportunity to increase income through rent repositioning and operational improvements. Walnut Garden maintains consistently high occupancy with predictable annual turnover, allowing for periodic rent resets through natural lease rollover while preserving income stability. The property benefits from separately metered electric and gas utilities, reducing ownership utility exposure. Located less than one-half mile from both the East Orange and Brick Church NJ Transit stations, the property offers convenient access to Newark and New York City and is positioned within an improving transit-oriented corridor. Combined with below-market in-place rents and a limited supply of comparable institutional-quality assets, Walnut Garden presents an attractive long-term investment opportunity in Northern New Jersey.
Exclusively Listed By
Financing By
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