Description
Rare Legal Boarding House in Prime South Orange - Turnkey Income Property! An exceptional investment opportunity awaits with this rare, legal boarding house, a unique designation that ensures consistent monthly income ($14,000/month with 3% increase in June) and offers flexibility to rent to individuals or groups.The 1st floor Unit 1 features 4 spacious bedrooms, a large living/dining area, and an eat-in kitchen. A private entrance makes this space ideal for groups seeking a secure and comfortable living arrangement. A separate, 1st floor studio apartment with kitchenette, full bath, and private entrance offers another excellent rental opportunity. The 2nd and 3rd floors (considered Unit 3). contain 9 individually rented bedrooms, fully occupied, with several long-term tenants and no vacancies during ownership ensuring a reliable income stream. Additional on-property amenities include shared laundry facilities and off-street parking, a highly sought-after feature in this desirable location.Situated just down the block from South Orange Village's vibrant shops and restaurants, a short distance from Seton Hall University, and adjacent to the direct train to NYC, this property is perfectly positioned for high tenant demand. Whether catering to students, commuters, or professionals, this income-generating property is a rare and valuable find in one of New Jersey's most desirable rental markets. CAN BE SOLD AS A PACKAGE with 122 MILLIGAN (COMING SOON BUT CAN BE SHOWN IMMEDIATELY)
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14BEDS
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0.17ACRES
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4BATHS
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01/2 BATHS
Description
Rare Legal Boarding House in Prime South Orange - Turnkey Income Property! An exceptional investment opportunity awaits with this rare, legal boarding house, a unique designation that ensures consistent monthly income ($14,000/month with 3% increase in June) and offers flexibility to rent to individuals or groups.The 1st floor Unit 1 features 4 spacious bedrooms, a large living/dining area, and an eat-in kitchen. A private entrance makes this space ideal for groups seeking a secure and comfortable living arrangement. A separate, 1st floor studio apartment with kitchenette, full bath, and private entrance offers another excellent rental opportunity. The 2nd and 3rd floors (considered Unit 3). contain 9 individually rented bedrooms, fully occupied, with several long-term tenants and no vacancies during ownership ensuring a reliable income stream. Additional on-property amenities include shared laundry facilities and off-street parking, a highly sought-after feature in this desirable location.Situated just down the block from South Orange Village's vibrant shops and restaurants, a short distance from Seton Hall University, and adjacent to the direct train to NYC, this property is perfectly positioned for high tenant demand. Whether catering to students, commuters, or professionals, this income-generating property is a rare and valuable find in one of New Jersey's most desirable rental markets. CAN BE SOLD AS A PACKAGE with 122 MILLIGAN (COMING SOON BUT CAN BE SHOWN IMMEDIATELY)
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Data last updated 2025-05-12T16:46:47.637.