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Multifamily

20-Unit Montclair Portfolio

22 High St, Montclair, NJ 07042

Listing Price: $4,570,000

Cap Rate
5.00%
Number of Units
20
Price/Unit
$228,500
Price/Gross SF
$297.72
Gross SF
15,350

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale four multifamily properties in Montclair, New Jersey. This rare portfolio encompasses 20 units with a mix of studios, one and two bedrooms. The buildings are currently 98% occupied with 31% upside in rents achievable through renovations. Montclair has six train stations with a direct train line to Midtown Manhattan in approximately thirty minutes. It also has several bus routes that bring you into New York within 40 minutes. The town is located only 15 miles from New York City and 13 miles from Newark Liberty Airport. Montclair is one of New Jersey’s most coveted towns with a buzzing downtown, countless restaurants, shopping, and art scene; and elegant homes with scenic views and just 30 minutes from Manhattan.

Investment Highlights

  • Montclair is one of New Jersey's most coveted towns with a buzzing downtown, countless restaurants, shopping, and art scene.
  • The portfolio has 31% upside
  • 15 miles to Midtown NYC
  • With six train stations in the immediate area of the properties, NJ Transit offers a direct commute to Midtown Manhattan in 29 minutes

Exclusively Listed By

Multifamily

20-Unit Montclair Portfolio

Listing Price: $4,570,000

Cap Rate
5.00%
Number of Units
20
Price/Unit
$228,500
Price/Gross SF
$297.72
Gross SF
15,350

Investment Highlights

  • Montclair is one of New Jersey's most coveted towns with a buzzing downtown, countless restaurants, shopping, and art scene.
  • The portfolio has 31% upside
  • 15 miles to Midtown NYC
  • With six train stations in the immediate area of the properties, NJ Transit offers a direct commute to Midtown Manhattan in 29 minutes

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale four multifamily properties in Montclair, New Jersey. This rare portfolio encompasses 20 units with a mix of studios, one and two bedrooms. The buildings are currently 98% occupied with 31% upside in rents achievable through renovations. Montclair has six train stations with a direct train line to Midtown Manhattan in approximately thirty minutes. It also has several bus routes that bring you into New York within 40 minutes. The town is located only 15 miles from New York City and 13 miles from Newark Liberty Airport. Montclair is one of New Jersey’s most coveted towns with a buzzing downtown, countless restaurants, shopping, and art scene; and elegant homes with scenic views and just 30 minutes from Manhattan.

Exclusively Listed By

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