422 Valley Rd Coming Soon Save Request In-Person Tour Request Virtual Tour
Montclair Twp.,NJ 07043
OPEN HOUSE
Sun Jun 08, 12:00pm - 2:00pm
Key Details
Property Type Multi-Family
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 3,480 sqft
Price per Sqft $477
Subdivision Upper
MLS Listing ID 3966513
Style 3-Three Story
Bedrooms 7
Full Baths 3
Year Built 1922
Annual Tax Amount $22,663
Tax Year 2024
Lot Size 7,405 Sqft
Property Description
Are you looking for an investment to super-size your wallet? Look no further than this pristine multi-family gem on a corner lot in highly sought-after Upper Montclair. This property features three impressive rental units with low fixed costs and strong net returns, with the potential for a gross operating income of $8,625/mo (4.6% cap rate) making it an ideal opportunity for both investors and owner-occupants. Perfectly situated just blocks from the Watchung train station, with a direct line to NYC and easy access to Montclair schools. The 1st and 2nd floors exude charm with hardwood floors, fireplaces, French doors, and private porches. The 3rd floor unit is a fully town-compliant 1 bedroom rental showcasing a modern open layout with vaulted ceilings, skylights, hardwood floors and a sun-drenched living space. Additional highlights include separate utilities for each unit, two laundry rooms, five storage areas in a sparkling clean basement, and a bonus three-car garage with a total of six off-street parking spaces. The property has been extensively upgraded with a roof featuring 40-year Timberline shingles and plywood, a new driveway, thermal windows, updated siding and insulation, a new sewer line, and auto-feeding boilers. There's no oil tank or asbestos on the property. This is a rare, turn-key opportunity to own a well-maintained, income-producing property in one of Montclair's most desirable neighborhoods. Property is being sold as is.
Location
State NJ
County Essex
Zoning R2
Interior
Heating Gas-Natural
Cooling Window A/C(s)
Exterior
Exterior Feature Vinyl Siding
Parking Features Detached Garage, Garage Parking
Garage Spaces 3.0
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Corner, Level Lot
Sewer Public Sewer
Water Public Water
Schools
High Schools Montclair