Kelly DeFrancesco
Price Reduced 10.00%
Price History
$2,000,000
12/13/2023
$1,800,000
3/4/2024
136 Walnut St, Montclair, NJ, 07042-3853
1966
3,348 sqft
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.
Status:
Active
Type:
Commercial
Units:
8
Zoning:
R2
Complex:
Walnut Street
Heating:
Electric, Gas-Natural 1 Unit, Baseboard - Hotwater, Multi-Zone
Cooling:
4+ Units, Wall A/C Unit(s)
Basement:
Finished, Full, Walkout
Levels:
3
Parking:
12-car Assigned, Blacktop, Driveway-Exclusive, Off-Street Parking
Lot Size:
100X120 IRR
Acreage:
0.28
Est. Taxes:
$31,900
Assessment
$943,800
Current Use
Apartment Complex
Utilities
Electric, Gas In Street, Gas-Natural
Lot Description:
Level Lot
MLS #:
3878159
Community Info
School Info
Walk Score
Mass Transit
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