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Multifamily

31 Beech Street, East Orange

31 Beech St, East Orange, NJ 07018

Listing Price: $2,300,000

Cap Rate
5.61%
Number of Units
17
Price/Unit
$135,294
Price/Gross SF
$187.76
Gross SF
12,250

Investment Overview

Marcus & Millichap has been selected to exclusively market for Sale 31 Beech Street, East Orange, New Jersey – a 17 unit, multifamily building. The four story, 17-unit building has a unit mix of nine one bedroom apartments and eight two bedroom apartments. The subject property is ideally located a block and a five minute walk to the East Orange Train Station and has easy access to Garden State Parkway, Interstate 280, New Jersey Turnpike and more. Additionally, the property is located eight blocks from the Brick Church Train Station, 17 miles from Manhattan and 11 miles from Newark Liberty International Airport. East Orange has earned a reputation as a city with ideal regional connectivity due to accessible public transportation. The building is located within close walking distance to excellent public transportation which offers a 6-minute ride to Newark and a 24-minute ride or less to Penn Station Manhattan. The successful public transportation system has sparked new development opportunities in the city as several nearby apartment complexes are under construction and/or have recently been delivered. The new supply speaks to the value of the location and should continue to push rents upward.

Investment Highlights

  • 5.61% Current Cap Rate / 10.61% Pro Forma Cap Rate
  • 46% Upside in Rents
  • Five Minute Walk to the East Orange Train Station offers a 30-Minute Ride to Penn Station Manhattan
  • Easy Access to Garden State Parkway and Route 280

Exclusively Listed By

Multifamily

31 Beech Street, East Orange

Listing Price: $2,300,000

Cap Rate
5.61%
Number of Units
17
Price/Unit
$135,294
Price/Gross SF
$187.76
Gross SF
12,250

Investment Highlights

  • 5.61% Current Cap Rate / 10.61% Pro Forma Cap Rate
  • 46% Upside in Rents
  • Five Minute Walk to the East Orange Train Station offers a 30-Minute Ride to Penn Station Manhattan
  • Easy Access to Garden State Parkway and Route 280

Investment Overview

Marcus & Millichap has been selected to exclusively market for Sale 31 Beech Street, East Orange, New Jersey – a 17 unit, multifamily building. The four story, 17-unit building has a unit mix of nine one bedroom apartments and eight two bedroom apartments. The subject property is ideally located a block and a five minute walk to the East Orange Train Station and has easy access to Garden State Parkway, Interstate 280, New Jersey Turnpike and more. Additionally, the property is located eight blocks from the Brick Church Train Station, 17 miles from Manhattan and 11 miles from Newark Liberty International Airport. East Orange has earned a reputation as a city with ideal regional connectivity due to accessible public transportation. The building is located within close walking distance to excellent public transportation which offers a 6-minute ride to Newark and a 24-minute ride or less to Penn Station Manhattan. The successful public transportation system has sparked new development opportunities in the city as several nearby apartment complexes are under construction and/or have recently been delivered. The new supply speaks to the value of the location and should continue to push rents upward.

Exclusively Listed By

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